DeepIntent Secures $637 Million to Advance AI-Powered Healthcare Advertising After Vitruvian Partners Acquisition
DeepIntent secured $637M from Vitruvian Partners to boost AI integration in its healthcare ad platform. The funding supports targeted marketing for top pharma brands.
Healthcare Adtech Firm DeepIntent Secures $637M Funding to Advance AI Product Development
DeepIntent, a demand-side platform serving healthcare and pharmaceutical brands like AstraZeneca, Bayer, Gilead, and Johnson & Johnson, announced a $637 million investment led by private equity firm Vitruvian Partners. This deal grants Vitruvian a majority stake in the company, marking a significant milestone in DeepIntent's growth trajectory.
The company plans to use the fresh capital to enhance its technology stack by integrating generative AI tools. These tools will complement DeepIntent’s existing platform, which merges media decisioning with AI capabilities and clinical data to optimize ad targeting.
DeepIntent’s founder and CEO, Chris Paquette, emphasized the strategic importance of this investment. He highlighted the company's commitment to responsibly bridging healthcare and media, enabling patients and healthcare providers to access crucial information for informed treatment decisions.
Vitruvian Partners’ Sophie Bower-Straziota expressed enthusiasm about supporting DeepIntent’s expansion. She pointed out that the company benefits from key growth trends such as personalized healthcare and the increasing use of data and machine learning to connect with relevant audiences more effectively.
The company will maintain operational independence with a restructured board that will include industry experts, though specific new members have yet to be announced.
Founded in 2016, DeepIntent leverages real clinical data to assist pharma and health brands in executing targeted marketing campaigns. It offers access to a health data marketplace, custom audience building for patients and healthcare practitioners, and manages cross-channel ad buys. The platform serves 19 of the top 20 global life sciences companies and their agencies.
Recently, DeepIntent launched a free ad-supported TV service aimed at helping healthcare advertisers reach audiences on premium streaming platforms. This move follows a previous setback when the U.S. Federal Trade Commission blocked a planned acquisition of DeepIntent by IQVIA due to competition concerns.
Financial advisory support for DeepIntent came from Evercore, while Vitruvian was supported by Canaccord Genuity, Houlihan Lokey, Kirkland & Ellis, Bain & Company, and others.
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