Its “Answers as a Service” from a 1.8 million member clinical Crowd gives life sciences, pharma, and healthcare an agile strategy for staying ahead of a changing competitive and regulatory landscape.
BOSTON, MA February 5, 2016—InCrowd, a provider of real-time market intelligence to life sciences and healthcare firms, said it achieved a dramatic increase in FY 2015 revenue and correspondingly strong growth across all segments of its clinical “Answers as a Service” business. The results underscore the receptivity of healthcare, pharmaceutical, and life science communities to newer, more agile approaches of gaining market insights in a time of unprecedented change.
During FY 2015 privately held InCrowd’s sales increased by over 70%, and the number of “answers” sold and delivered from its Crowd of 1.8 million of physicians, nurses, managed care providers, and pharmacists increased by 106% percent compared to the previous full year. Revenue from large, multi-brand clients grew by 97%, and revenue from global pharmaceutical firms grew 90%. The company’s recent results follow on three successive years of approximately 100% full-year revenues growth, as its mobile microsurvey approach and innovative business model where clients buy blocks of answers, not projects—saw rapid adoption.
“The changing reimbursement landscape and heightened competition are forcing the life science and healthcare sector to seek new avenues for efficiency, like InCrowd,” said Janet Kosloff, CEO and co-founder of InCrowd. “We take pride in knowing that we’re doing more than streamlining internal processes. We are speeding the insights that are essential to moving much-needed treatments to market, and redefining the vendor-client partnership via new technology.”
Other InCrowd milestones achieved during 2015 include:
- Issuing over 800,000 answers by year-end to guide decisions on M&A activities, drug and device development, branding and marketing campaigns, and sales effectiveness reviews. The figure is notable since InCrowd’s mobile microsurvey format takes 2-5 minutes for respondents to complete on mobile devices—in contrast to typical surveys with 30 to 40 questions that require quadruple the time to finish.
- More than 20% growth in staff, including seasoned executives Art McGee, Vice President of Sales; Meghan Oates-Zalesky, Vice President of Marketing; Charu Gupta, Marketing Director; and Danielle Schroth, Crowd Recruitment Director; among others.
- Enhanced speed of on-demand insights by linking with SHC’s Global Healthcare Gateway Access Platform via a newly developed InCrowd API.
- Expanded Crowd via partnership with online medical community SKIPTA.
- Ranked nationally as a Top Company Culture by Entrepreneur Magazine and CultureIQ.
- Named Top Market Research Group by Ignite Advisory Group.
- CEO Janet Kosloff named a “Women to Watch 2015” by the Boston Business Journal, and one of “20 Researchers You need to Know” in 2015 by Survey Magazine.
- Chief Technology Officer Tom Lancaster named a Tech Trendsetter by Survey Magazine.