BrightInsight Financial Model

BrightInsight provides a managed, ISO 13485-certified, HITRUST-certified cloud platform (built on Google Cloud) that biopharma and medtech companies use as the underlying regulated infrastructure for connected drugs, Software as a Medical Device (SaMD), connected devices, and clinical/commercial analytics.

Core platform capabilities:

• Connectivity and device management for regulated apps, algorithms, devices, and combination products
• Data aggregation from multiple sources; EHR integration
• Clinical, operational, and patient-engagement analytics dashboards
• Pre-built APIs, starter software assets, modular/scalable architecture

The pitch's core argument: building in-house costs up to $20M and $10M/year to maintain, takes 2+ years, requires 10+ engineers, and is not a competitive advantage for pharma/medtech.

Moat elements: ISO 13485 QMS, HITRUST CSF v9.1, GDPR/HIPAA/HDS compliance, Master File with FDA, EC Certification for SaMD, and the only compliant cloud change-control process with Google Cloud.

No explicit TAM/SAM/SOM slide in deck.

Referenced market context (industry figures cited, not BrightInsight estimates):

• McKinsey estimate: big data could generate $100B in value across US healthcare system through accelerated clinical trials and R&D optimization.
• Improving medication adherence by 10% could generate an extra $124B in annual pharma revenues (Capgemini cited).
• Escalating pricing/reimbursement pressure for therapies >$100K driving real-world data demand.

No market sizing (TAM/SAM/SOM) explicitly presented.

Not explicitly stated in deck. Model is B2B enterprise - customers are global biopharma and medtech companies (AstraZeneca, CSL Behring, Novo Nordisk, Roche named).

Inferred from "managed service model" framing:

• Platform access fees (annual subscription or multi-year contract) per product deployment or per customer
• Professional services / implementation fees for onboarding new digital health products onto the platform
• Usage-based components possible (data volume, number of countries/instances), given reference to platform costs scaling with volume

No pricing tiers, per-seat pricing, or ACV figures disclosed.

Named customers (logos shown): AstraZeneca, CSL Behring, Novo Nordisk, Roche.

Case study details:

• Novo Nordisk: diabetes care partnership using BrightInsight for connected insulin pens + third-party blood glucose meter data integration.
• Roche: CE-marked Dosing Calculator (SaMD) - HEMLIBRA emicizumab dosing calculator launched on the platform.
• CSL Behring: platform used for data capture and aggregation across therapies for rare/serious disease patients.

Financial/operational metrics: None disclosed (no revenue, ARR, growth rate, customer count, or NRR figures).

Dashboard UI figures on slide 7 (25:53, 26,596, 2,000, 8,500, 35%) appear to be illustrative demo dashboard data, not BrightInsight's own business metrics.

Team: described as "100+ years of combined digital health experience." Google Cloud Partner of the Year for Healthcare: 2018 and 2019. Media coverage: 20+ outlets referenced.

No explicit competitive landscape slide. Positioning is against the "build your own" alternative (not named SaaS competitors).

Moat:

• Only regulated platform with compliant cloud change-control via Google Cloud partnership
• ISO 13485, HITRUST, FDA Master File, EC Certification - barriers high for competitors to replicate quickly
• Spun out of Flex (hardware manufacturing giant) with embedded regulatory/quality DNA
• Google Cloud Partner of the Year Healthcare 2018 + 2019

Named investor/backer Flex is also a strategic partner, providing supply-chain / hardware depth.

Team (slide 21):

• Kal Patel, MD - CEO & Co-Founder
• Ferry Tamtoro - CTO & Co-Founder
• Ben Lee - Data Architecture & Analytics & Co-Founder
• Dave Matthews - Chief Commercial Officer
• Swati Reichmuth - Operations
• Mark Tarby - Regulatory & Quality Management System
• Jamie Burgess - Marketing (VP Marketing, contact on closing slide)
• Bob Michitarian - Chief Legal Officer
• Marcelo Duhalde - Lead, Digital Health Europe
• Mia Naik, CPA - Finance

Funding history:

• Total raised: $65M
• Latest round: Series B, $40M, June 2020
• Investors: Eclipse, Insight Partners, New Leaf Venture Partners (NLV), Flex

Funding ask: Not explicitly stated (this appears to be an overview/investor deck at time of Series B close, not a live fundraise deck).

• Archetype + why: B2B Enterprise SaaS ARR model. BrightInsight sells multi-year regulated platform contracts to a small number of large biopharma/medtech enterprises. Revenue is recurring (annual contract value), with professional services layered on. The managed-service framing and regulatory compliance lock-in create high retention and long contract durations - classic enterprise SaaS dynamics. A 3-statement model should sit behind it to show burn rate and path to profitability, given the company is pre-profitability (Series B, no margin data).

• Forecast horizon & granularity: 5-year forecast (2020–2024), monthly for Year 1 then annual; revenue by customer cohort.

• Key drivers & assumptions:
• Number of enterprise customers (logos)
• 2020 base: 4 named customers; 8–12 total active contracts at Series B given company was spun out 2017–2018
• Net new logos per year: 4–8 new enterprise wins/year, given long sales cycles in biopharma/medtech (~9–18 months) and small TAM of decision-makers
• Average ACV per customer: $500K–$2M/year platform fee based on comp benchmarks for regulated B2B health infrastructure (no deck data)
• Professional services / implementation revenue: 20–30% of platform ACV in year of onboarding
• Gross margin on platform: 60–70% at scale; lower early due to high Google Cloud infra costs and customer-specific compliance setup
• Churn / logo retention: very low (<5% annual logo churn) - switching cost is enormous (regulatory re-validation of entire platform); NRR likely >110% as customers add products/countries
• Countries / product expansions per existing customer: 1–2 new products or geographies per customer per year (expansion revenue driver)
• Headcount growth: 20–30% YoY consistent with Series B burn; team is ~10 named leaders, total headcount probably 50–100
• OpEx: heavy R&D (platform expansion) and sales/marketing spend; S&M driven by long-cycle enterprise reps
• Burn rate: $15–25M/year based on $40M Series B with ~2-year runway

• Scenarios (Base / Bull / Bear - which variables flex):
• Base: 4–6 new enterprise logos/year; ACV $750K; ~60% gross margin; churn <5%
• Bull: 8–10 new logos/year; ACV $1.2M driven by larger customers (global rollouts); expansion to 5+ countries per customer faster
• Bear: 2–3 new logos/year (long pharma procurement cycles, COVID disruption in 2020); ACV compression if smaller medtech customers enter the mix; gross margin pressure from custom compliance builds

• Required sheets / outputs:

1. Assumptions - all drivers in one tab
2. Revenue build - logo cohort waterfall (new logos × ACV + expansion + professional services)
3. P&L - ARR/revenue, COGS (infra + managed service headcount), gross profit, S&M, R&D, G&A, EBITDA
4. Headcount plan - by function
5. Cash flow & runway - monthly burn, cash balance, months of runway post-Series B
6. ARR bridge - opening ARR, new logo, expansion, churn, closing ARR
7. KPI dashboard - logo count, ARR, ACV, NRR, gross margin %, burn rate, runway