View our recent Founder Q&A with Revisto CEO Ferry Tamtoro
AUSTIN, Texas, November 18, 2024 - Revisto, a pioneering AI-powered solution streamlining the medical, legal, and regulatory (MLR) review process for pharmaceutical marketing materials, today announced it has secured $4 million in seed funding. The round was led by LiveOak Ventures, with participation from Eli Lilly and Company, Tau Ventures and Arkin Digital Health.
This investment 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, developed with terabytes of proprietary pharmaceutical data, addresses the time-consuming, 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.
The Revisto solution reduces the time and cost associated with the MLR review process, which has traditionally been a bottleneck in pharmaceutical marketing operations.
"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," said Ferry Tamtoro, CEO of Revisto and seasoned pharmaceutical leader.
"We're excited to leverage this fresh funding to expand our team and accelerate product development," Ferry added. "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."
By streamlining the MLR review process, Revisto aims to save life sciences companies an estimated $15 million or more per brand annually.
"Revisto's solution, backed by a leadership team with deep pharmaceutical industry expertise, is set to transform pharmaceutical marketing," said Venu Shamapant, founding partner of LiveOak Ventures. "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," Venu continued. "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."
Revisto's AI-powered review solution harnesses customers’ brand-specific data and real-time FDA 21 CFR regulations and guidelines to address the pain points in the MLR review process, which is hampered by multiple stakeholders, ever-changing regulations, and manual processes.
By automating and optimizing these workflows, Revisto enables pharmaceutical companies to bring their products to market faster while maintaining the highest standards of regulatory compliance. The solution seamlessly integrates into existing review workflows and CMS software, like Veeva Vault PromoMats.
The company, which currently has more than ten team members, is poised for significant growth as it continues to innovate and expand its services to meet the evolving needs of the life sciences industry.
Follow Revisto on LinkedIn for the latest news and information, and check out their original press release here.
About Revisto
Revisto is a leading AI-powered platform revolutionizing the medical, legal, and regulatory (MLR) review process for pharmaceutical marketing materials. Based in Austin, Texas, and co-created in partnership with High Alpha Innovation, Revisto leverages cutting-edge AI technology and industry expertise to streamline marketing operations, reduce costs, and eliminate compliance risks for life sciences companies. By optimizing the release cycle and improving quality and consistency, Revisto plays a pivotal role in enabling the next generation of data-driven, personalized and engaging life sciences marketing. For more information, visit revisto.com.
