Canaccord Genuity Advises Mavens on its Sale to Komodo Health
Transaction Creates the First Data-Driven Enterprise Platform for Life Sciences
Canaccord Genuity is pleased to announce it has advised Mavens Consulting Services, Inc., a leader in cloud-based technology solutions for the life sciences, on its sale to Komodo Health, a data-driven healthcare software company with the industry’s most comprehensive platform for life sciences medical teams. The acquisition comes on the heels of Komodo’s $44 million series D funding led by ICONIQ Growth, with participation from previous investors Andreessen Horowitz, Oak HC/FT, IA Ventures, Felicis Ventures, and McKesson Ventures. The sale of Mavens is the third transaction closed in the in the last twelve months with a partner in the Salesforce.com ecosystem.
Mavens is the pioneer in building trusted software products and implementing cloud-based technology to help biotech, rare disease, and specialty pharma companies navigate the challenges of commercialization. The company was founded by two former Salesforce.com employees – Prasad Kanumury (PK) and Billy Ho – with a simple goal to demystify and unlock the power of cloud technology for life sciences. The Mavens team has designed, built, and implemented globally compliant software in life sciences for more than 13 years.
Komodo Health believes that smarter, more innovative use of data and analytics is essential for reducing disease burden. The company’s tech platform applies artificial intelligence and other advanced data science techniques to the first-of-its-kind Healthcare Map™, which tracks the unique patient journeys of more than 320 million patients. Komodo Health empowers a multitude of healthcare stakeholders – life science companies, healthcare payers and providers, patient advocacy groups, and others – to create a more cost-effective, value-driven healthcare system.
The acquisition will enable Komodo Health to expand its cloud-based platform with a suite of software and applications that will help life sciences companies to integrate critical insights and data seamlessly into their enterprise workflow applications, while ending their reliance on fragmented data and expensive single-point solutions. Purchasing fragmented and costly data assets, custom solutions, and expensive consulting projects will be a thing of the past, as Mavens’ solutions will help the combined companies’ customers access a seamless, data-driven platform across R&D, Commercial, Medical Affairs, and Patient workflows.
Together, Komodo and Mavens will expand their software capabilities, infused with insights from Komodo's Healthcare Map™ – which leverages the patient journeys of more than 320 million de-identified individuals. As the industry shifts toward a patient-centered data model, enterprise healthcare companies can end their reliance on legacy data aggregators. The acquisition will also accelerate Komodo’s global expansion, as Mavens currently operates in the U.S., U.K., and India.
Canaccord Genuity, with a team led by JP Michaud and Evan Gabriel, served as exclusive financial advisor to Mavens.
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