Prospection builds AI-driven healthcare insights technology that ingests multiple longitudinal patient and commercial datasets (governments, insurers, providers, health records) to follow millions of de-identified patients over time and find treatment patterns. Its algorithms turn those datasets into actionable medical evidence to help determine optimal treatments, identify patients who would benefit from different therapeutic decisions, and produce publishable scientific evidence. The company reports its SaaS annual recurring revenue is growing rapidly and already serves 36 multinational customers across Australia, New Zealand, Japan, South Korea and China, with an early presence in the UK and US. Its technology is used by 17 of the top 20 pharma companies worldwide. Prospection plans to expand in the UK and US, build additional product capabilities and use cases (including clinical decision support during appointments), and enable ingestion of more datasets to strengthen its commercial moat. The company aims to broaden its customer base to support payors, governments, physicians and patients. Prospection, founded in 2012 out of Sydney’s Cicada Innovations, builds healthcare analytics platforms that apply predictive analytics and machine learning to real‑world data to surface insights for improving patient outcomes. Its flagship platform PharmDash analyzes medication usage, treatment progression, and drug effectiveness, while PharmMap integrates commercial and operational data using geospatial mapping algorithms. The company says its platforms are already used by 15 of the top 20 global pharmaceutical companies and by researchers such as UNSW’s Kirby Institute, covering insights across 70 therapy programs including immuno‑oncology, HIV and hepatitis. Prospection has clients across New Zealand, Japan, China and South Korea and plans to establish a presence in South Korea and Japan this year. The company raised A$10 million in its first external funding round to accelerate its analytics platforms into new therapy areas, grow its AI capabilities and expand into the Asia‑Pacific region. CEO and co‑founder Eric Chung said the new investors support the company’s long‑term vision to deliver better healthcare through its technology.

Total raised

$52M

Funding rounds

2

Latest round

Series B

Latest activity

Sep 2021