Healthcare Adtech Firm DeepIntent Clinches $637M in Funding for AI Product Development

DeepIntent, a demand-side platform that helps healthcare and pharma manufacturers together with AstraZeneca, Bayer, Gilead, and Johnson & Johnson purchase advert house, introduced Tuesday that it’s secured a $637 million funding from non-public fairness agency Vitruvian Companions.Vitruvian acquires a majority share within the firm with this funding. DeepIntent’s board of administrators might be “reconstituted to incorporate a choose group of business leaders and area consultants,” with the corporate persevering with to function independently underneath present chief govt and founder Chris Paquette, in accordance with a joint assertion shared Tuesday. New board members haven’t been introduced. DeepIntent mentioned it deliberate to make use of the brand new capital to construct out and combine generative AI instruments inside its tech stack. These developments will construct on the corporate’s proprietary platform, which mixes media decisioning with AI instruments and medical information.“This funding is a robust vote of confidence—not solely in DeepIntent, however within the important function our business performs on the intersection of healthcare and media,” Paquette instructed ADWEEK. “It affirms our mission to responsibly join these worlds in order that sufferers and docs alike can entry the information they should make knowledgeable selections about life-changing therapies. We’ve by no means been extra assured in our means to harness information science and promoting to enhance affected person outcomes at scale.”Vitruvian Companions accomplice Sophie Bower-Straziota mentioned in a press release that the agency is “excited to assist the workforce of their fast scaling,” including that “DeepIntent sits on the forefront of highly effective structural progress drivers, together with the rise of customized, patient-centered healthcare and the rising availability of information and machine studying to allow extra significant connections with related audiences.”Evercore acted as DeepIntent’s unique monetary advisor on the deal. On the purchase facet, Vitruvian obtained advisory assist from Canaccord Genuity, Houlihan Lokey, Kirkland & Ellis, Bain & Firm, FTI Consulting, Epstein Becker & Inexperienced, and Crosslake.Based in 2016, DeepIntent makes use of actual medical information to assist pharma and well being manufacturers execute advertising campaigns. It provides manufacturers entry to a well being information market, helps them construct out customized audiences of sufferers and healthcare practitioners, and manages advert buys throughout channels. The corporate claims to service 19 of the highest 20 international life sciences corporations and their promoting companies.The funding from Vitruvian comes simply two weeks after DeepIntent introduced the launch of a free ad-supported TV providing, made to assist healthcare advertisers attain audiences on premium streaming companies.Final yr, the U.S. Federal Commerce Fee blocked a deliberate acquisition of DeepIntent by well being data expertise firm IQVIA over competitors considerations.