NEW YORK--(BUSINESS WIRE)--Medikly, Inc. (Medikly), the leading New York-based software-as-a-service (SaaS) technology provider for pharmaceutical brands and agencies, today announced the close of a $1.2M Series A round of funding led by Easton Capital Investment Group.
“There are thousands of healthcare IT startups that are consumer- or hospital-focused, and none that address the niche-specific, $30 billion dollar problem that pharmaceutical marketers face –– how to target and engage healthcare providers on an individual level, while being able to measure performance and drive business value”
This announcement comes four months after the company graduated from Blueprint Health, a New York City-based startup accelerator, and just a few weeks after the company reported several marquee customers and strategic partners. Medikly’s unique enterprise-grade platform provides pharmaceutical marketers a multi-channel marketing solution that combines social, content, and big-data analytics to deliver insights and optimize campaign spend.
Launched in 2011, Medikly is a rapidly growing company that combines multi-channel marketing with predictive analytics to help marketers better understand physician behaviors and preferences. The company’s success centers around its platform’s three unique modules that include:
- Preference Discovery Engine (PDE) that allows marketers to identify and understand patterns of behavior, relationships and inherent qualities among physicians across multiple touchpoints.
- Personalization Engine that leverages insights from the PDE to present targeted and relevant information to physicians, through their preferred channel of choice, any time, anywhere.
- Analytics Engine that empowers marketers to make better business decisions, identify gaps and opportunities, predict campaign attrition, and optimize resources in real-time.
“There are thousands of healthcare IT startups that are consumer- or hospital-focused, and none that address the niche-specific, $30 billion dollar problem that pharmaceutical marketers face –– how to target and engage healthcare providers on an individual level, while being able to measure performance and drive business value,” said Venkat Gullapalli, MD, Founder and CEO of Medikly.
“Pharmaceutical companies have been slow to adopt technologies that demonstrate how their digital campaigns engage and influence physicians, and relate to the overall return on investment of their marketing dollar. By offering a best-in-class solution, Medikly's platform fulfills this unmet need,” said Kresimir Letinic, Vice President at Easton Capital. "In a very short time, Medikly has accumulated an impressive list of customers and a pipeline of pharmaceutical clients –– clear market validation of the company's platform. We are excited to partner with the Medikly team to help create a new, innovative, and scalable alternative to multi-channel marketing in the pharmaceutical space."
According to Gullapalli, Medikly will use the financing to fuel the company’s continued rapid growth and enhance the development of its next-generation marketing platform.
“I started this company with a long-term vision to make it easier for healthcare marketers to engage providers with relevant, targeted content, no matter what digital channel they participate in,” adds Gullapalli. “As a physician and healthcare marketer, I saw first-hand how difficult it is to get a doctors attention. It shouldn’t be that way and Medikly is changing this.”
Medikly is pharma’s first and only unified, cloud-based platform that helps brands better reach, engage, and understand physicians across multiple touchpoints. Medikly’s platform goes beyond current technology solutions by delivering deeper content, interactive experiences, and a robust set of measurable and actionable big data analytics. For more information, visit www.medikly.com or email email@example.com.
ABOUT EASTON CAPITAL INVESTMENT GROUP
Easton Capital is a leading venture capital fund with a sector focus in the life sciences. The company’s professionals have decades of experience in all aspects of the life sciences, providing unique financial, strategic, operational perspectives, and resources to entrepreneurs who want to grow their business. Easton’s mission is to invest in opportunities that offer services or products that can materially improve or reduce the costs of the health care that people receive. Easton’s approach directly aligns the firm’s interests and goals with entrepreneurs and managers of the enterprises it supports. Members of the Easton team have participated in running more than $1 billion in investment funds during their careers, have helped launch more than 100 companies, and made a number of investments that generated returns in excess of 100x.