ODAIA: The Future of Pharmaceutical Sales with AI-Powered Commercial Insights
By Emily Melton and Megan Kelly
At Threshold, we invest in disruptive healthcare companies that have the potential to improve patient experience and outcomes.
The newest addition to our portfolio is ODAIA — a company delivering a unique, AI-powered commercial insights platform that serves pharmaceutical companies. We are thrilled to lead ODAIA’s $25 million Series B and join the board.
Too often in healthcare, we see business inefficiencies get in the way of delivering great patient care. Pharmaceutical companies have lacked a way to provide sales teams with the dynamic and predictive insights they need. This includes: (1) extending sales boundaries to identify and engage new healthcare professional (HCP) prospects, (2) making on-the-fly recommendations to HCPs based on their changing needs, and (3) reducing pre-call prep time before scheduling visits.
ODAIA’s MAPTUAL platform reduces these inefficiencies. MAPTUAL leverages AI to streamline and automate the prospecting, qualifying, and engagement of HCPs, allowing commercial teams to better understand the propensities of prescribing certain therapies. With MAPTUAL, a pharma salesperson can deliver the right message to the right healthcare professional at the right time, which ultimately accelerates the timeline for delivering therapeutics to the patients who need them most.
ODAIA is uniquely positioned to capture the opportunities that have unfolded in the post-pandemic pharmaceutical industry. Digital transformation has accelerated, and leveraging artificial intelligence and machine learning has become a core part of that effort.
Prior to 2020, pharmaceutical companies’ interactions with HCPs have been highly personalized, primarily through face-to-face, in-office visits. As preferences and engagement requirements continue to evolve, the need for commercial insights tools that can facilitate more personalized customer engagements is greater than ever.
The commercial pharmaceutical analytics market is expected to reach over $57 billion by 2030. The US healthcare industry spends $30 billion per year on marketing, with $20 billion of that directly focused on marketing to healthcare professionals. Not only are we excited about the existing market opportunity but also about how ODAIA’s technology can be leveraged to drive efficiency and insights across other areas of pharma.
We are seeing that market pull for ODAIA’s platform firsthand as the company has already established several top 20 global pharmaceutical companies as customers. The company has also grown year-over-year ARR in 2022 by over 645 percent.
In addition to a stellar product and a massive market opportunity, we couldn’t be more excited to partner with Philip Poulidis, ODAIA’s CEO and co-founder. Philip is an experienced CEO, founder, and company builder, and we believe his passion and leadership, combined with the disruptive technology that the ODAIA team has built, is going to change the market.
At Threshold, we focus on investing in healthcare and technology businesses that have the potential to make a positive impact on patient outcomes, and ODAIA aligns perfectly with our mission.