NEW YORK--(BUSINESS WIRE)--BranchLab, a data science company developing advanced AI software that enables healthcare brands to reach the right consumers, today announced the closing of a seed funding round led by newark venture partners (or nvp). The funding will be used to accelerate product development and market expansion for BranchLab's industry-leading, privacy-safe healthcare advertising solutions for TV. In addition to nvp, Aperiam, venture capital firm, also took part in the seed round, among many other strategic investors.
BranchLab was launched in February of this year and founded by adtech and healthcare advertising veterans Josh Walsh, CEO; Michael Parkes, President and Chief Revenue Officer; and Chris Cagle, Chief Technology Officer. Understanding the implications that cookie and broader ID deprecation and increased privacy regulations like My Health My Data will have on health and pharmaceutical advertising, the founders created an “ID-less” solution for bridging the gap between real world health data and advertising with the aim of increasing TV advertising performance while prioritizing privacy.
“Regulations on personal data and healthcare are moving at the speed of light and we see an incredible opportunity to help healthcare and pharmaceutical brands not only navigate these changes but help future proof their solutions,” said BranchLab CEO, Josh Walsh. “We believe new regulations prohibiting the connection of persistent IDs to consumer health data will become the norm across the industry. This means the existing way audiences are built will need to be replaced and advertisers will need an entirely new privacy-safe and scalable solution to effectively reach their patient audiences and drive outcomes. We believe BranchLab is that solution.”
BranchLab's database, HealthGraph™, aggregates anonymized data from over 300 million US residents and their healthcare journeys, including data on 2.1 million healthcare providers. Built atop a secure cleanroom environment, HealthGraph™ is updated weekly with various healthcare data points, ensuring its comprehensiveness and relevance. Leveraging this unique data asset, BranchLab applies machine learning to create comprehensive audience models from the underlying anonymized data. These models incorporate billions of data points to assign value to media across TV environments enabling targeted advertising, as well as in-flight campaign optimization.
The oversubscribed seed funding round signifies investor confidence in BranchLab's innovative approach to healthcare advertising. The funding will fuel the company's growth and solidify its position as a leader in the privacy-first advertising landscape. Healthcare accounts for one of the largest advertising spends by vertical in the US, which reached $23.5 billion in 2023 and is projected to reach almost $34 billion by 2032 according to the IMARC Group.
"nvp is committed to supporting best-in-class founders working to transform industries and the team and mission of BranchLab epitomizes this spirit. Their groundbreaking approach to prioritizing consumer privacy and increasing advertising performance addresses critical market needs while also paving the way for a more privacy-forward and inclusive advertising ecosystem for pharmaceutical manufacturers,” said Vaughn Crowe, Managing Partner at newark venture partners. “We look forward to working alongside BranchLab as they reinvent healthcare advertising for the 21st century."
"In an era of significant shifts, including the deprecation of third-party cookies, enhanced regulations, and the power of AI, the advertising landscape is transforming. BranchLab is leading this evolution in the healthcare sector with innovative AI solutions and a strong commitment to privacy and safety," said Eric Franchi, General Partner at Aperiam. "We are thrilled to support proven teams like BranchLab's founders as they revolutionize healthcare advertising, helping consumers find the right healthcare solutions while protecting their personal data."
About BranchLab
BranchLab is a data science company developing advanced AI software, enabling healthcare brands to reach the right consumers while setting a new bar for privacy standards. BranchLab operates in the U.S. and is based in New York with offices in Colorado and Pennsylvania. For more information, please visit BranchLab.com.
About newark venture partners (nvp)
nvp backs exceptional founders building the next generation of game-changing enterprise software businesses anywhere in the world. Our tight-knit team of investment professionals are builders at heart, executing with a startup mindset and decades of operational experience to support entrepreneurs on their journey from pilot to scale. For more information visit newark.vc.
About Aperiam
Aperiam is a full-cycle investment and advisory firm founded by pioneers and operators in advertising technology. Established in 2017, Aperiam focuses on three core areas: incubation, investment, and advisory/activation. Committed to building, investing in, and advising companies that define the future of advertising and marketing, Aperiam provides unparalleled access to innovation and insights. For more information, please visit www.aperiam.vc.
