Analytical Wizards, a New Jersey-based global healthcare analytics firm, has announced that it has secured Series A funding from Sopris Capital.
Founded in 2015 Analytical Wizards leverages the power of AI/ML, technology, and domain expertise to provide solutions that drive value and accelerate business for clients in the pharmaceutical and biotech industries. The company has doubled its revenues every year since its inception in 2015.
Analytical Wizards has two proprietary platforms: WIZ, an industry leading multi-channel optimization platform, and IZE, a powerful real world analytics platform that processes big data to enable analytics on demand and uses AI/ML to generate predictive, prescriptive insights and proactive triggers.
Analytical Wizards will employ the Series A investment to bolster product development efforts and accelerate the development of modules on the IZE platform that address analytical needs of Clinical Development and HEOR/Health Outcomes teams, in addition to those of Commercial Brand, Access, and Sales teams within pharma/biotech.
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Commenting on the Series A funding, Andy Paul, founder and CEO of Sopris Capital, said, “In VC funding, we are constantly evaluating fresh ideas and business propositions, only a select few of which hold unique and compelling promise. Analytical Wizards has the potential to transform healthcare analytics, enabling significant efficiencies and delivering value across pharma and biotech organizations. We are excited about its trajectory and future growth.”
“This is an important milestone in our exciting journey, one that marks the confidence of the investment community in the value of our offerings,” said Ram Sharma, founder and CEO of Analytical Wizards. “The Sopris investment will provide a boost to our product development efforts and help us to meet the growing demands of our satisfied customers while also expanding our sales footprint and client base.”
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Jeff Kozloff, CEO of Trial Scope and an active entrepreneur and investor in the healthcare space has been an advisor to Analytical Wizards since inception and will join the Board of Directors, says ” I’m thrilled to be working with the brilliant Analytical Wizards team. They have completely flipped the model on advanced analytics and their market-leading platforms put customers in control of a user-friendly AI engine. No more black box. No more lengthy timelines. The Analytical Wizards self-serve platform delivers what customers value most: control, transparency and speed.”
“As active investors in technology-enabled healthcare services and SaaS companies, we recognize the compelling and differentiated value proposition of Analytical Wizards building tools that enhance efficiency and time-to-insights while providing scalability and repeatability to address key business problems across Commercial and Clinical organizations within pharma and biotech” said Abinav Sankar, Vice President of Sopris Capital who joins the Board of Directors for Analytical Wizards.
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