Revisto, an AI-based solution that streamlines the medical, legal, and regulatory (MLR) review process for pharmaceutical marketing materials, announced it has secured $4 million in seed funding. This funding round was led by LiveOak Ventures, with participation from Eli Lilly and Company, Tau Ventures, and Arkin Digital Health.
The funding brings Revisto’s total funding to $6 million, positioning the company to transform the pharmaceutical and life science industry’s often tedious and financially burdensome approach to marketing compliance.
Revisto’s MLR-focused AI technology, which was developed with terabytes of proprietary pharmaceutical data, addresses the manual review cycles faced by life sciences companies so that they can bring promotional materials to market quickly, gaining a competitive advantage while ensuring regulatory compliance and credibility with providers and patients. Revisto’s solution reduces the time and cost associated with the MLR review process, which has traditionally been a bottleneck in pharmaceutical marketing operations.
Revisto’s AI-based review solution utilizes customers’ brand-specific data and real-time FDA 21 CFR regulations and guidelines to address the pain points in the MLR review process, which multiple stakeholders, ever-changing regulations, and manual processes hinder. And by automating and optimizing these workflows, Revisto also enables pharmaceutical companies to bring their products to market faster while maintaining the highest regulatory compliance standards. This solution seamlessly integrates into review workflows and CMS software, like Veeva Vault PromoMats.
Revisto aims to save life sciences companies an estimated $15 million or more per brand per year by streamlining the MLR review process.
KEY QUOTES:
“This funding validates the transformative potential of Revisto’s AI-driven solution in the pharmaceutical industry and offers early adopters a significant time-to-market edge while saving money and preserving more of their MLR review team’s bandwidth for their central tasks. We’re excited to leverage this fresh funding to expand our team and accelerate product development. Our goal is to continue increasing the depth and breadth of what our engine can detect and recommend, adding substantial value to our customers’ operations.”
– Ferry Tamtoro, CEO of Revisto and seasoned pharmaceutical leader
“Revisto’s solution, backed by a leadership team with deep pharmaceutical industry expertise, is set to transform pharmaceutical marketing. By advancing efficiency and compliance through AI-driven technology, Revisto empowers the industry to accelerate the delivery of life-changing products while controlling costs. Our investment—alongside partners who are leaders in pharma and technology—reflects our confidence in Revisto’s potential to continue to make a tangible impact on pharmaceutical marketing operations. We’re excited to witness their impact on the pharmaceutical sector, starting with the striking value Revisto has already created through initial deployments with early adopters in Big Pharma.”
– Venu Shamapant, founding partner of LiveOak Ventures
