PHARMACEUTICAL COMMERCE MAGAZINE -
Company wins $10 million in venture capital as it lines up key life sciences data and solution providers
For most pharma organizations, the ability to perform analytics on top of data-generating applications such as customer relationship management (CRM) or multichannel marketing (MCM) is the new state of the art: By gathering and analyzing such data, trends can be captured quickly and then reacted to. Like many, many other players in this Big Data space, Reltio (Palo Alto, CA) offers its capabilities to rapidly bring in diverse data sources together, draw linkages and derive trends. But unlike most, it comes to the activity from the field of master data management (MDM)—the task of gathering together accurate client demographic information and keeping it updated. And while it is offering its services to a variety of industries, it has already targeted life sciences MDM as a core market, and hired executives from companies such as Veeva (the CRM vendor), Informatica and Siperian. Most recently it announced winning $10 million from two private-equity firms, Crosslink Capital and .406 Ventures.
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