MarkLogic: A NoSQL Vertical Jump for More Revenue?
July 24, 2019
Is NoSQL-database-platform-firm MarkLogic is emulating Dialog Information Services and Lexis Nexis or vertical plays for quirky controversial, niche markets like drugs and medical device specific services? MarkLogic’s push into other verticals like professional publishing and finance have not generated the type of buzz and revenue that other Silicon Valley firms have sparked. Maybe pharma is the key which will unlock massive returns for the stakeholders? MarkLogic has resisted the type of acquisition and repositioning play that kCura executed in eDiscovery? Perhaps pharma, a sector whose revenue grows as the number of global players shrinks?
The company announced the MarkLogic Pharma Research Hub, created to bring the power of federated search to the field of pharmaceutical R&D. The product description tells us:
“For pharmaceutical companies, the discovery of new molecules and the cost of developing a successful medicine can take up to 15 years and $2.6 billion — slowing potentially life-saving drugs from getting to the patients who need them and resulting in abandonment of drug trials when faced with potential failure. In this industry, even small improvements to streamline R&D processes can lead to substantially higher revenue and lower costs. To achieve those goals, pharmaceutical companies need to leverage their massive data assets that include decades of research and clinical trial data. The challenge is that researchers are often unable to access the information they need. And, even when data does get consolidated, researchers find it difficult to sift through it all and make sense of it in order to confidently draw the right conclusions and share the right results.”
The product announcement elaborated:
“The main challenge facing IT departments that serve pharma R&D is patchwork infrastructure that creates the data silos that isolate and restrict access to data. Pharmas need to leverage massive data sets, including decades of research and clinical trials information.”
In addition, we’re reminded, disparate data silos hamper collaboration, upon which researchers rely heavily. The announcement goes on to outline the platform’s advanced features: the ability to load any pharmaceutical data set, relationship visualizations and discovery, and customizable search results. Naturally, these functions are made possible by machine-learning AI.
Founded in 2001 as Cerisent, MarkLogic is based in San Carlos, California, with several offices in the U.S. and in Europe. After changing its name, it released Version 1 of its platform in 2003. The company has ingested more than $170 million in venture funding. The firm has probed the intelligence sector and marketed itself as an enterprise search solution. But revenues? MarkLogic is a privately held firm just 18 years young.
Cynthia Murrell, July 23, 2019
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