Stephen Flutie demos Bakken, an AI platform for medtech founders and investors. For startups, it automates regulatory work like 510(k) filings and offers competitor analysis. For investors, it searches a database of 1,500+ investors and 1,000+ startups, then generates due-diligence reports in hours instead of days.
Chapters
Hello, Boneset. This is Stephen Flutie, the founder of Bakken. Bakken is a healthcare investment intelligence platform. First principles, we developed this to make life easier for startups, for founders, for investors, for PE firms, really for the entire industry in a couple of different facets. For startups, how can you identify new investment opportunities for you? How can you do competitive intelligence research and see what your competitors or how much money they brought in and who those investors might be? And then we've also taken it a few steps further and built out a suite of Bakken skills that has over 18 skills from helping founders and startups build 510s, being able to help build out value analysis packs, marketing material with a quality consultant built into it. So those claims that we want to put in there are actually substantiated and they'll show you the rules of the FDA that you're violating with suggested changes. So it's not meant to eliminate consultants, but definitely meant to make your life easier and to run leaner. Um, on the investor side of things, we have a database of over 1,500 investors, but not just private equity, not venture capital, not even the micro VCs. We're really focused on being able to show you how many family offices and angel networks and angel investors. We also have a natural search tool where you can search for individual investors at specific firms or in locations or investment title types. Now, this parses through over 20,000 profiles, mainly pulling directly from LinkedIn, which is nice because you can search the About Me section. You can search the title and say, find, you know, angel investors in Memphis, Tennessee, or all the investors at HealthPoint Capital or Tech Coast Angels, and we'll be able to identify them. It'll show you a list and enrich their contact information. And we'll walk through it for a demo. For the investor side of things, how do we make life easier for the due diligence process? Not just from the financial side, but from the clinical side as well. And so where generalist platforms like PitchBook do a very great job on the financial side, they lack in the clinical side. And that's what we wanted to be able to build, as well as we have a database of over 1,000 startups at this point, and it's growing each week. So for investment firms or for M&A teams, you can find new opportunities and see where they're at from here. This is the command center, essentially, if you will. We'll go directly into the find investment firms. As you can see, we've got a healthy database already. We've got corporate venture arms, family offices, venture studios, accelerators, and this is growing out significantly. I'll go ahead here and click this one so we can look at 406 Ventures in Boston. I click on their LinkedIn. You can see their team. You see the portfolio and any press of those recent about them, their average check size. Sometimes that's on their websites, and we try to pull those in. Sometimes they're not, so it's very hard to find those in certain areas. So you can search for whatever it might be— VCs focused on quality in Boston, Series A investors. Move myself out the way. The exciting thing is being able to do people search. This allows you to search for— as you can kind of see here as it's going through— find investors at Tech Coast Angels. And what's important about that is now you could actually identify individual angel investors that are associated with that firm. So this parses through not just 20,000 investors, but actually over 800 million LinkedIn profiles. We have 6 layers of AI parsing and ranking to make sure that it's actually those people that you're looking for. So let's go ahead and look on the results. We do initial parse to see who they are. If you want to change the search parse way through, you can do so, or you can just click on Find Me, you know, those investors and reveal them. So I'll move myself again out of the way and move up here. Now I can see a former chair IT committee. I'm the investor, the board governance president, a member of Do a Deal Lead. This is a different firm, but looks like another time they were potentially there. So let's just go ahead and click on Spice Social. You can click on this and enhance their profile and see who they are, kind of all this fun stuff here. And if I wanted to move out the way here, I can go click on— okay, let's go— this, this angel, and you'd be able to actually enrich with their contact information right here. Now you get unlimited searches. The different subscriptions allow you to have different enrichment possibilities. So 75 contact enrichments per month. If you need to, you can just add more at any time. You don't need to level up to the next subscription. So that's the really exciting part. Now on these botkin skills, move myself out the way again. That's where these come in. You'll see 510 builder, IDE, QSUB meeting, FD response letter. Launch Readiness, Coding Guidelines. And these are just meant to steer you in the right direction. This is not meant to take over any consultant's needs at all. Value Analysis, Build Submission. You know, it's— this is all the tools that we needed when we were building products beforehand, and we just figured, let's do the same thing and build these out for founders. For the investor side, let's go back to this. This is where you can explore and find new opportunities, new companies that are coming to market. There's their rounds, there's, you know, where they are at, their Overview how much money these teams have raised, the funding, uh, patents are being looped into this one a little bit better on the patent search, regulatory, all that fun stuff. But let's go into the research agent. This is if I'm an investment firm, if I'm in an M&A team, if I'm an analyst, or if I just want to run a deep due diligence on a company to know their funding history and their clinical side of things. This is where I would go. So we'll move myself again. Click on MEOC. So from here, I can pull in MEOC's information, their total funding amount across how many rounds, their last round, and their investors. Now, this is pulled from SEC information and backfill and bub with press information as well. From there, we've built 4 agents that essentially search and parse through this information and build it with a financial analyst in mind. So you can see the executive summary, who they are, the rounds. This is what our intelligence coverage looks like. You can go layers deeper and see all this information here as well. The FDA analysis, they have pulled in their warning letter, their 510s, whatever that might be. The clinical side of things, how many trials they have going on, how many are active. CMS, which is interesting because now you can look into the coverage information. Clinical evidence, which is the most cited information from here. People that are on their team, on their board, and their patent information as well. So this is a very exciting tool. Now, if I wanted to, you would just click this tool and it's going to bring you to another page, and you can export that entire due diligence report, which typically would take days to run. This one just takes, just takes a few hours. So that's Bakken. There's a ton of other tools. I'm happy to
