Technology company PeakData has raised €12.1 million in Series A funding to support its artificial intelligence (AI) platform.
Launched in 2018, PeakData enables pharmaceutical companies to uncover the whole therapeutic area by mapping the healthcare professionals (HCPs) most relevant to their target market. It’s hoped that this enables patients to benefit from new medicines, faster. The funding follows rapid growth for the company, with the platform now being used by over half of Europe’s major pharmaceutical companies.
The PeakData platform work by uses AI algorithms to rank HCPs in terms of their digital impact, influence and relevance to their target market and uses data to track changes in HCP status over time.
The funding was led by leading independent investment manager Albion Capital, which also included Octopus Ventures and Heal Capital.
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.”