Pharmaceutical SssS cloud service company Yibai Technology completed tens of millions of dollars in Series B financing

Recently, Beijing Yibai Technology Co., Ltd. (hereinafter referred to as "Yibai Technology"), a provider of overall solutions for pharmaceutical marketing technology (Pharma MarTech), announced the completion of tens of millions of dollars of B round financing, led by Huiyuan Capital, followed by KIP Capital, and Light Source Capital as the exclusive financial adviser for this round of financing.

It is reported that after the completion of this round of financing, Yibai Technology will further increase investment in technology research and development and accelerate new business expansion.

Founded in 2016, Yibai Technology provides digital transformation solutions for pharmaceutical and equipment enterprises, with the company's self-developed Pharma MarTech underlying technology architecture as the core, digital marketing services, intelligent representative work management, Internet hospitals and intelligent data platform products, covering the marketing full link of "enterprise-doctor-patient-drug" and the whole life cycle management of pharmaceutical marketing.

In recent years, under the complex background of policy tightening, weak growth in the pharmaceutical market, and the continuation of the epidemic, the digitalization of the pharmaceutical industry has ushered in a great development.

According to the Frost & Sullivan report, the domestic pharmaceutical digital marketing market is only 15.2 billion yuan in 2020, and it is expected to reach 113.3 billion yuan by 2025, and it is expected to reach 363.3 billion yuan by 2030, with an annual compound growth rate of more than 37%. From a global perspective, the penetration rate of digital marketing of pharmaceutical companies has reached 34% in 2020, while the penetration rate of digital marketing of Chinese pharmaceutical companies is only 2.3%, which is nearly 15 times the gap compared with the world.

Gao Jianfei, founder and CEO of Yibai Technology, judged that digital marketing that integrates online and offline will become the trend in the next 10 years.

This trend can be embodied in two "Double 50" indicators: the proportion of digital channel resources will account for 50% of the overall market resources of pharmaceutical companies; the frequency of interaction between pharmaceutical companies and doctors through digital channels will account for 50% of the total interaction.

In the past 5 years, Yibai Technology has invested more than 100 million yuan in research and development funds. The company has independently developed a 100.pMarTech technology SaaS platform, covering 100.eMarketing pharmaceutical digital marketing products, 100.CRM + intelligent representative workbench, 100.eHospital Internet hospital and 100.AiData intelligent data platform product business matrix, providing pharmaceutical enterprises with the overall solution of "digital academic promotion, digital sales management and digital doctor-patient management", helping pharmaceutical companies achieve precision marketing, Improve sales conversion and full-cycle service and management of doctors and patients.

At present, Yibai Technology has served more than 1,000 pharmaceutical enterprises and 100+ associations, and covered more than one million doctors and tens of thousands of hospitals. In the three years from 2019 to 2021, Yibai Technology will achieve a 9-fold increase in performance.

In terms of technology empowerment, 40% of the medical technology team is R & D personnel, and the scale of the technical team continues to expand. Up to now, Yibai Technology has applied for 17 patents and registered more than 50 soft books.

Gao Jianfei said that based on the traditional scenarios of offline meetings and hospital visits in pharmaceutical marketing, the future of in-depth digital transformation is bound to be the integration of online and offline, and its core underlying technology is audio and video technology. Live's new medical conference product.

The company revealed that the 100.eMarketing exclusive academic marketing platform has covered more than 1,000 head pharmaceutical and device enterprises, and formed a very high customer stickiness, based on the medical encyclopedia full-scenario marketing plan, the customer repurchase rate reached 92%, and the amount retention rate (NDR) was as high as 198%. 100.CRM+ Intelligent Representative Workbench product has been launched in the second half of last year, once launched, more than a dozen pharmaceutical companies signed contracts, and completed the opening of their academic marketing exclusive platform, the product is also called "China's version of Veeva". 100.eHospital Internet Hospital products also obtained Internet hospital licenses and other related qualifications in December last year.

A head domestic pharmaceutical company customer of Yibai Technology, with its exclusive digital platform as the academic promotion position, only through online activities such as academic live broadcast and case collection in 2021, has covered more than 30,000 doctors in more than 2,000 medical institutions, through the panoramic portrait of active users, build different doctor growth systems, hierarchical operation, optimize resource allocation, and greatly improve the input-output ratio. Among them, the number of HPPs covered per capita increased by 50%, and the number of HDPs identified by high-potential targets increased by about 32%.

Huihua Capital said that starting from domestic pharmaceutical companies that serve many, unlike most of the companies in the industry that provide digital marketing services, Yibai Technology is one of the few companies that empowers the digital transformation of the pharmaceutical industry through SaaS marketing technology (Pharma MarTech). Combined with the development process of the international market, it is believed that it is easier for China's pharmaceutical digital marketing field to grow into giant enterprises. We are firmly optimistic about the profound insight of the medical technology team on the pharmaceutical marketing scenario, its forward-looking technology research and development investment and the strategic layout of the closed-loop marketing of the pharmaceutical "digital marketing - digital sales management - digital doctor and patient management", which has formed a strong technical barrier in the industry. With the blessing of three consecutive years, we have seen the deep cultivation of Medical Hundred Technology and look forward to its further development.

Li Bingmin, vice president of KIP Capital, said that the digital penetration rate of marketing of Chinese pharmaceutical companies is far lower than the global average, and pharmaceutical digital marketing is a 100-billion-level market. As a leading digital marketing service provider in China, whether it is technology investment or insight into this industry, it is very cutting-edge, we can see the differentiated business layout of Medical Hundred and the same industry platform, and we also believe that the integrated marketing platform of Medical Hundred Technology will be able to help the digital process of the industry.

Xu Yinchuan, executive director of Light Source Capital, said that under the background that the pharmaceutical marketing industry is facing a digital inflection point and the blue ocean of 100 billion will start, Medical Hundred Technology has always provided rare full-chain, all-scenario pharmaceutical marketing products and services in the industry around the needs of pharmaceutical companies with the accumulation of profound pharmaceutical and marketing compounds, solving the marketing pain points of pharmaceutical enterprises in one stop, serving nearly a thousand pharmaceutical and equipment enterprises, and obtaining a high reputation from customers. As a technology-led company with scarce tracks, Yibai Technology has invested a lot of R&D funds to independently develop the industry-leading high-performance audio and video underlying technology platform and the SaaS platform that includes a variety of products, laying a solid foundation for the digital marketing of pharmaceutical enterprises.