Healthtech Unicorn Innovaccer Raises $275 Mn Series F funding

Healthtech unicorn company, Innovaccer has raised $275 million in its Series F funding round which was a combination of primary and secondary transactions.

The funding round saw participation from Banner Health, B Capital Group, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente and M12.

Funfing Utilisation

The company plans to use the new funding to expand, introduce AI and cloud features and grow its developer community. It also aims to add tools like utilization management, prior authorization, clinical decision support, clinical documentation, care management, and contact center solutions, Innovaccer said in a statement.

Read also - Fintech startup GrayQuest Bags Rs 80 Cr Funding

Sandeep Gupta, co-founder and COO of Innovaccer, said, “This investment propels us into the next chapter of transforming healthcare with AI. By harnessing the full potential of artificial intelligence, we are empowering our customers to redefine care delivery, unlock unprecedented insights and achieve outcomes that truly matter. Together, we are building the foundation for a smarter, more connected healthcare future,”

Innovaccer, backed by Tiger Global has raised $150 million in its Series E round in December 2021. The Silicon Valley based startup has raised $675 million so far. 

In the past years, it also acquired two companies, Cured and Pharmacy Quality Solutions.

About Innovaccer

Innovaccer was founded in 2014 by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta, it analyzes healthcare data to give useful insights to providers, hospitals, insurers, and other organizations. Its clients include CommonSpirit Health, Kaiser Permanente, Banner Health, others.

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