Dive Brief:
- AcuityMD has raised $80 million to add artificial intelligence features to its platform for medical device commercial teams.
- The company, which disclosed the financing Tuesday, sells a platform that integrates third-party data, such as Food and Drug Administration records, that are relevant to commercial teams. The platform aligns the information with a company’s internal data to inform commercial decisions.
- AcuityMD has created an AI tool to help teams make use of the data, for example by cutting the time it takes a sales rep to plan a day of visits to customers and prospects.
Dive Insight:
AcuityMD supports 16 of the top 20 medtech companies, according to the software provider. Since its founding in 2019, the company has raised $160 million. The latest financing round valued the business at $955 million.
The company plans to use the funds to add agentic AI capabilities for commercial personas, including sales reps, leadership and marketing teams. Other plans include deepening the data aggregation that underpins the platform and expanding beyond commercialization. AcuityMD framed the expansion as part of its aim to accelerate adoption of medical technology across the product life cycle.
An AI tool, AcuityAI, is now available in open beta. Mark Edwards, senior director of sales operations at bone graft business Kuros Biosciences, outlined how one of his colleagues used the tool to interrogate the data platform.
“One of our sales leaders asked AcuityAI for intel on a new national contract with a large health system, and quickly had a full business plan: where to go, which surgeons to prioritize and more context than he could get spending hours on Google,” Edwards said in a statement.
AcuityMD shared a video of another use case, showing a sales rep asking AcuityAI to plan their day. The user asked the system to prioritize high-value targets to help drive adoption of a device. In response, the tool generated an itinerary, including a driving route, based on the rep’s existing appointments and the schedules of relevant healthcare providers. The tool can also help reps prepare for specific meetings.
AcuityMD competes with companies such as Alpha Sophia, which sells a platform to help medtech sales teams identify potential customers and align their offerings with the priorities of hospital administrators.
