Global AI customer targeting platform PeakData raises £10m in funding

Pharmaceutical AI platform PeakData has raised £10m in Series A funding led by Albion Capital and included Octopus Ventures and Heal Capital. 

Launched in 2018, PeakData enables pharmaceutical companies for the first time to uncover the whole therapeutic area by mapping the healthcare professionals (HCPs) most relevant to their target market. This essential mapping means patients benefit from innovative new medicines more quickly and receive better treatment. The funding follows rapid 6x growth for the company over 2021, with the platform now being used by over half of Europe’s largest pharmaceutical companies.

Using the PeakData platform, pharmaceutical companies can enhance the effectiveness of commercial and medical teams and, for the first time, uncover the whole HCP universe for any given therapeutic area to focus resources only on those HCPs that matter most. The platform uses AI algorithms to rank these HCPs in terms of their digital impact, influence and relevance to their target market and uses dynamic data to track changes in HCP status over time. Not only can pharma companies find and personalise their communications with the top-tier experts, but, as the market changes, identify emerging influencers who may not have previously been on their radar. This is crucial because it gives pharma companies the ability to focus their limited resources.

The platform is now being used by over half of Europe’s largest pharmaceutical companies and the company has grown from 12 to 70 employees since 2021. 

  
PeakData is the brainchild of data scientists Patrick De Boer and Michael Feldman. Patrick was previously CTO of the Center for Collective Intelligence at MIT while Michael had spent ten years in academia, researching and publishing on AI, Statistical Data Quality and Crowd Intelligence. 

Patrick De Boer, co-founder of PeakData said:

We started PeakData after a realisation that AI could help provide better patient outcomes. In order to ensure healthcare professionals are aware of the latest medicines, pharmaceutical companies must be provided with the latest data about them and their key focus areas. We see PeakData as filling a key gap in the way our customers receive and analyse this data. Combining our AI approach and platform with the global presence of a number of pharmaceutical companies will have an immediate and long-term positive impact for our customers and the patients they serve. We’re excited Albion shares this vision and look forward to working with them going forward.
 

 

Christoph Ruedig, partner at Albion Capital, said:

When we first met Patrick, Michael and the team, we were impressed by their dedication, drive and determination to develop the best data AI platform in a healthcare setting. Finding the right therapeutic experts and healthcare professionals for their drugs is massively important for pharmaceutical companies and with PeakData they can now reach global, national and local medical professionals who shape clinical decision-making. The potential for PeakData to help provide better patient outcomes and improve the decision-making of key healthcare professionals is very exciting and we’re pleased to be able to join the team on this journey.