Innovaccer, a healthtech unicorn with dual headquarters in Noida and San Francisco, has raised $275 million in its Series F funding round through a combination of primary and secondary transactions.
This latest round saw participation from major investors, including B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and Microsoft’s M12 fund.
The company last raised $150 million in its Series E round in December 2021. With this latest infusion, Innovaccer’s total funding now stands at $675 million, valuing the company at over $3.4 billion.
Innovaccer plans to use the new capital to bolster its artificial intelligence (AI) and cloud capabilities, expand its developer ecosystem, and introduce new AI-powered solutions, such as clinical decision support, care management, prior authorization, and contact center tools.
Founded in 2014 by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta, Innovaccer leverages healthcare data to provide actionable insights for hospitals, insurance providers, and other healthcare organizations.
Its client list includes industry leaders such as CommonSpirit Health, Kaiser Permanente, and Banner Health.
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Commenting on the funding, co-founder and COO Sandeep Gupta 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.”
The funding marks Innovaccer’s return to the fundraising stage after more than three years and comes amid challenges in securing mega deals across the startup ecosystem.
