Yibai Technology Secures Tens of Millions in USD in Series A+ Funding to Accelerate Digital Transformation in Pharma Marketing

Recently, Beijing Medical Technology Co., Ltd. (hereinafter referred to as “Medical Technology”), an internet innovator specializing in the digitalization of pharmaceutical marketing, announced the completion of its Series A+ financing round, amounting to tens of millions of US dollars. The round was led by MindWorks Capital, with participation from Zhongding Capital and KIP. Huimei Capital, an investor in the company’s Series A round, also continued its investment. Bairong Capital served as the financial advisor for this financing round.

Beijing Medical Technology, established in 2016, is a leading provider of digital marketing services for the pharmaceutical industry in China. Leveraging its independently developed all-scenario, one-stop SaaS cloud service platform, it empowers pharmaceutical companies, medical device manufacturers, academic societies, and associations by delivering comprehensive, all-scenario, one-stop technical solutions.

Gao Jianfei, Founder and CEO of Beijing Medical Technology, stated that the company has a deep-rooted B2B service DNA. “Adhering to customer-first principles, empowering customer success, and creating value for our clients have always been our core beliefs and pursuits.”This round of financing will be primarily used for product research and development, technological investment, recruitment of top talent, market expansion, and business extension, further solidifying the company’s industry-leading position in providing one-stop comprehensive solutions for digital marketing.

After completing a tens-of-millions-of-yuan Series A financing round with Huimei Capital last September, Beijing Medical Technology has attracted intensive investment from several well-known funds over the past year, highlighting its significant potential and value in the digitalization of pharmaceutical marketing. As healthcare reforms deepen and policies such as volume-based procurement continue to advance, pharmaceutical companies’ profit margins have been substantially compressed, creating an urgent need for efficient, compliant academic promotion models. In this context, the nearly trillion-yuan pharmaceutical marketing market is embracing opportunities for digital transformation.

It is an inevitable trend for academic promotion to return to its value-based roots, and the pandemic has further accelerated industry transformation. Gao Jianfei revealed that in internet healthcare entrepreneurship, one must look not only at the market’s “invisible hand” but also at the government’s “visible hand.” Under the triple catalysts of policy, market forces, and the pandemic,In 2020, Beijing Medical Technology continued to maintain a rapid growth rate of 500%.During the pandemic, YiBai leveraged technology to provide free, customized digital platform development for medical industry associations, medical education institutions, and hospital departments such as respiratory and infectious diseases. This initiative efficiently facilitated the dissemination of medical information by healthcare professionals despite physical distancing measures. As of now,Beijing Medical Technology has successfully served nearly 100 industry societies and associations, as well as over 500 leading domestic and international pharmaceutical and medical device companies. During the pandemic, it acquired one new medium-to-large pharmaceutical or medical device enterprise client every day.

The core foundation of digitalization is asset digitization. Digital innovation in the pharmaceutical industry is not confined to a specific channel or technology; rather, it represents an innovation driven by a holistic view of the entire industrial chain, integrating multiple technologies across the full process. During the pandemic, nearly all pharmaceutical companies embarked on multi-channel, multi-form digital explorations, leveraging the inherent advantages of digital tools—namely, low cost, high efficiency, and the ability to break through physical spatial constraints. However, this continuous multi-channel data growth has resulted in the accumulation of vast amounts of data in varying formats, posing significant challenges for future data integration, analysis, and decision-making. Moreover, some of this data resides on platforms operated by third-party service providers, remaining entirely outside the control of pharmaceutical enterprises.

Digitalization should focus on long-term strategy. Gao Jianfei introduced that since 2010, the digital marketing of pharmaceutical and medical device companies has gone through a decade of exploration, including fragmented use of various digital marketing tools, sporadic cooperation projects with third-party Internet healthcare platforms, and outsourcing the development or operation of various WeChat official account platforms. The epidemic this year has accelerated the speed and determination of pharmaceutical companies' digital transformation, upgrading from previous fragmented and supplementary use to comprehensive strategic use, beginning to think in terms of "platformization, full-scenario coverage, modularization, and closed-loop capability."

       1、Platformization: Pharmaceutical companies must establish their own proprietary platforms to continuously accumulate online digital assets—such as content, users, and data—thereby building their own enterprise-owned traffic pools;

       2、All Scenarios: All online digital marketing activities of pharmaceutical companies across every scenario must take place on their own platforms to prevent data loss;

       3、Mopanization: Specifically, OMO (Online-Merge-Offline) integration. The healthcare industry is not undergoing disruption but rather empowerment and integration. Beijing Medical Technology’s newly launched “Yi Tui Mo Pan” empowers pharmaceutical representatives to become all-around professionals capable of integrating online and offline channels, rather than replacing them with virtual representatives.

       4、Closed-loop Capable: From marketing to sales to physicians, all online digital activities can achieve a closed loop within the enterprise’s exclusive platform. In the future, this will evolve toward intelligent data-driven marketing, enabling quantifiable ROI assessment from marketing efforts to sales volume;

Currently, data generated from “every academic live stream, every case collection campaign, and every knowledge competition” should be valued. Beijing Medical Technology’s one-stop SaaS cloud service solution empowers enterprises to consolidate massive amounts of data derived from content, users, and behaviors into a unified corporate platform, thereby building an enterprise-owned traffic pool that is highly correlated with the market. Meanwhile, it assigns corresponding data access permissions to different personnel. These data reserves will play a key role in future precision marketing.

2020 marked the inaugural year of digital transformation in pharmaceutical marketing. Data shows that during the pandemic, coverage by digital platforms increased by 30%, with nearly 80% of physicians using online platforms to access medical information. It is projected that online channels will become a critical approach, operating in tandem and on equal footing with offline channels through deep integration.

Yibai SaaS Cloud Platform covers more than 30 traditional pharmaceutical marketing business scenarios, includingMulti-channel Interaction, Cloud Classroom, Live Surgery Broadcasts, Case Collection, Survey Research, Knowledge Competitionsand other interactive formats. To meet the expectations of scenarios with higher demands, Beijing Medical Technology has upgraded its solutions to simulate real-world scenarios,Construct a virtual conference space that organically integrates the keynote speaker, guests, and customized scenarios into a three-dimensional environment.Deliver a more immersive remote conference experience for users, enhancing interactive engagement and the efficiency of academic promotion.In addition to the domestic market, Beijing Medical Technology’s business has successfully expanded to the United States, the United Kingdom, Singapore, Japan, and other countries, facilitating cross-border academic exchanges.

As digitalization increasingly permeates every aspect of academic promotion, oversight of digital processes and outcomes has become more critical. On December 1, 2020, the mandatory registration system for pharmaceutical sales representatives will be fully implemented, elevating the management and regulation of these professionals to a national level.Medical Representative Workbench by YibaiAddressing this industry pain point, the Medical Representative Workbench is, as its name suggests, a management tool designed to empower medical representatives. It covers the promotion, lead generation, delivery, and invitation aspects of marketing projects, providing one-stop capture from process management to final result statistics. This ensures efficient reach to target users and makes marketing activities transparent and traceable. By extending the enterprise’s internal CRM system to streamline internal personnel management, and by integrating external functionalities such as physicians’ online learning, representatives’ online promotion, and ultimately prescription conversion, the platform helps enterprises efficiently evaluate sales execution effectiveness and track every data conversion generated throughout the promotional process.

Zhang Ruiqi, Partner at MindWorks CapitalIt was stated that advancing digitalization requires a forward-looking perspective, and establishing a mindset centered on digital ecosystems early on holds profound significance for enterprises. We highly recognize the value Beijing Medical Technology brings to pharmaceutical companies and hope that the company will continue to leverage its technology platform to provide more innovative solutions for the industry, thereby fully supporting the digital transformation of the pharmaceutical sector.

Yin Junping, Partner at Zhongding CapitalIt stated that we view Yibai’s platform-based solution as one that empowers others while achieving self-success. Digital marketing permeates the entire pharmaceutical industry process, highly connecting internal management with external promotion, integrating the full value chain, ensuring orderly collaboration and mutual reinforcement, which aligns closely with Zhongding’s platform-oriented investment philosophy.

Lee Byung-min, Vice President of Investment at KIPIt stated that Beijing Medical Technology’s digital marketing model deeply connects enterprises, representatives, physicians, and patients, forming a highly vertical business layout differentiated from peer platforms. We are optimistic about Beijing Medical Technology’s entry strategy in the pharmaceutical digitalization sector.

Luo Rushu, Managing Partner at Huimei Capitalstated that Huimei Capital firmly stands behind Yibai and continues to closely monitor its development. Over the past two years since initial engagement, it has witnessed Yibai’s efficient innovation, execution capabilities, and customer success-oriented service delivery. It is hoped that Yibai will remain true to its original mission, leverage technology empowerment to continuously advance the digital transformation of the pharmaceutical industry, and benefit a broader population.