Now, I don’t pretend to know very much about the relationship between big pharmaceutical companies and healthcare professionals, except that I do know it’s complicated. A huge amount of money is spent on R&D in the Life Sciences, and in turn, more money is spent marketing the resulting drugs and treatments. And in any industry, market intelligence is crucial, as is getting your message across to decision makers. In this case, on the ground at least, that means doctors and other healthcare professionals.
But until recently, the feedback loop between marketing message and recipient has tended to lag a little. InCrowd aims to change that through its on-demand platform which enables pharmaceuticals to survey screened and targeted healthcare professionals in real-time. Today, the company has announced that it’s closed a $2.2 million Series A round led by Nauta Capital.
Powering InCrowd is its database of pre-screened healthcare professionals — the ‘Crowd’ — who have opted-in to the platform. Pharmaceutical and other Life Science companies can then create specialist micro-surveys that target specific segments of the ‘Crowd’ and conduct these in real-time, delivered via its mobile app. So, for example, a Big Pharmaceutical could choose to reach doctors who have practiced for more than 10 years and specialise in breast cancer.
In the past year, InCrowd says that it has expanded its client base to include 8 of the top 10 pharmaceutical companies and has a growing list of biotech and medical device companies also using its service. That take-up, says the company, is down to the ability to offer near instant market feedback in an industry that is already very data driven. That data has now gotten a lot more real-time.