Healthcare AI firm 'Innovaccer' raises $275 million in a Series F
Innovaccer, a healthcare AI company, secured $275 million in a Series F funding round on Thursday.
The funding, a mix of primary and secondary offerings, included contributions from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12. CapTable had previously reported this development exclusively in April last year.
The company stated that the funds would be utilized to deepen partnerships with existing customers, introduce advanced artificial intelligence and cloud capabilities, and scale its comprehensive ecosystem. Innovaccer also plans to enhance its offerings with new AI-driven copilots and agents, including tools for utilization management, clinical decision support, and care management.
“This investment accelerates our mission to revolutionize healthcare with AI. By leveraging its full potential, we empower our customers to redefine care delivery, gain unparalleled insights, and achieve meaningful outcomes. Together, we are shaping a smarter, more connected healthcare future,” said Sandeep Gupta, Co-founder and COO of Innovaccer.
Founded in 2014, Innovaccer provides software solutions designed to modernize patient experiences and reduce administrative burdens for healthcare providers. Backed by Tiger Global, the company previously raised $150 million in a Series E round in December 2021, achieving a valuation of over $3.2 billion, according to CapTable.
With total funding now at $675 million, the Silicon Valley-based startup has also acquired Cured and Pharmacy Quality Solutions over the past year. This latest funding comes amid growing investments in AI for healthcare, a sector expected to attract $11.1 billion in venture capital in 2024, as reported by Silicon Valley Bank.
The funding, a mix of primary and secondary offerings, included contributions from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12. CapTable had previously reported this development exclusively in April last year.
The company stated that the funds would be utilized to deepen partnerships with existing customers, introduce advanced artificial intelligence and cloud capabilities, and scale its comprehensive ecosystem. Innovaccer also plans to enhance its offerings with new AI-driven copilots and agents, including tools for utilization management, clinical decision support, and care management.
“This investment accelerates our mission to revolutionize healthcare with AI. By leveraging its full potential, we empower our customers to redefine care delivery, gain unparalleled insights, and achieve meaningful outcomes. Together, we are shaping a smarter, more connected healthcare future,” said Sandeep Gupta, Co-founder and COO of Innovaccer.
Founded in 2014, Innovaccer provides software solutions designed to modernize patient experiences and reduce administrative burdens for healthcare providers. Backed by Tiger Global, the company previously raised $150 million in a Series E round in December 2021, achieving a valuation of over $3.2 billion, according to CapTable.
With total funding now at $675 million, the Silicon Valley-based startup has also acquired Cured and Pharmacy Quality Solutions over the past year. This latest funding comes amid growing investments in AI for healthcare, a sector expected to attract $11.1 billion in venture capital in 2024, as reported by Silicon Valley Bank.
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