Lokavant Analysis: $8M Raised
What is Lokavant?
Lokavant is an IT firm that provides real-time visualizations, risk alerts, artificial intelligence, and human insight services. The company is based in New York and has been recognized for its contributions in the fields of data visualization and risk management. Lokavant was acquired by ProofPilot.
Employees
51-200
Founded
2020
Industry
HealthTech, Data Analytics, AI/ML
Latest Funding Amount
$8,000,000
Latest Funding Round Size
$8.0M
Product Features & Capabilities
- Real-time visualizations
- Risk alerts
- Artificial intelligence services
- Human insight services
How much Lokavant raised
Funding Round - $8.0M
RecentOther Considerations
Acquired by ProofPilot; Raised Series A funding led by Mitsui & Co; Serves clients in the healthcare and pharmaceutical sectors
Tech Stack
- Artificial Intelligence (AI)
- - Lokavant utilizes AI to enhance the efficiency and outcomes of clinical trials. Their blog discusses the role of AI in optimizing trial processes and addressing challenges in study feasibility.
- Machine Learning (ML)
- - Machine learning techniques are integrated into their solutions to improve decision-making and forecasting in clinical trials.
- Data Management Tools
- - **Prizm CDH**: This is a source-agnostic data engine that aggregates and standardizes clinical trial data, facilitating better decision-making and performance in clinical trials.
- AI-Powered Solutions
- - **Clinical Trial Forecasting Solution**: This tool significantly reduces manual work and enhances the accuracy of trial forecasting.
- **AI Clinical Trial Feasibility Solution**: This solution optimizes trials from planning through to mid-study re-forecasting, improving overall trial management.
Gtm Strategy
Lokavant employs a sales-led growth strategy with elements of product-led growth. Their website does not prominently feature self-service sign-up options or transparent pricing, indicating a reliance on sales representatives for customer engagement. The case study on feasibility analysis demonstrates their focus on leveraging AI to enhance clinical trial processes, suggesting a commitment to providing value through advanced technology. This approach is indicative of optimizing for high-touch relationships and larger contract values, particularly within the pharmaceutical industry.
Reported Clients
- Top-10 Pharmaceutical Sponsor - Although the specific name is not disclosed, Lokavant assisted this sponsor in a feasibility analysis for a phase III trial. They utilized Lokavant's AI-driven insights to enhance site selection and improve trial feasibility.
- H1 - In a partnership aimed at enhancing clinical trial data and analytics, H1 utilizes Lokavant's performance data on global trial sites and investigators to improve its Trial Landscape repository.
- CMIC - Lokavant entered a multi-year partnership with CMIC to deploy its predictive analytics platform for clinical trial management in the Asia-Pacific region.
Trade Show Presence
- DPharm - September 17-18, 2024 - Notable Presentation: "Innovative Sources and Solutions" by Aaron Mackey, SVP Data Science and AI.
- DIA Global - June 16-20, 2024 - Notable Presentation: Innovation Theater Presentation by CEO Rohit Nambisan.
- ACDM24 - March 3-5, 2024 - Notable Presentations: Demo presentations on March 4th and 5th.
- SCOPE Summit - February 11-14, 2024 - Notable Presentation: "Making Rare Connections in Rare Conditions" by CEO Rohit Nambisan.
- Clinical Trials Europe - November 29-30, 2023 - Notable Presentation: Panel discussion on AI in clinical trials featuring CEO Rohit Nambisan.
- FT Live: Global Pharma and Biotech Summit - November 7-9, 2023 - Notable Presentation: "Pioneering Artificial Intelligence Across the Pharma Value Chain" by CEO Rohit Nambisan.
