Innovaccer – a provider of AI-powered data-driven solutions for value-based care providers – raised $275 million in Series F funding.
The funding round was co-led by B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12 Fund.
According to the official press announcement, this Series F funds will fuel Innovaccer’s efforts to expand its collaboration with existing customers, introduce new AI and cloud capabilities, and scale a developer ecosystem on the platform. The company intends to add multiple copilots and agents to its offerings, including utilization management, prior authorization, clinical decision support, clinical documentation, care management, and contact center.
Founded in 2014, Innovaccer helps healthcare organizations by providing a comprehensive suite of software solutions to power value-based care programs, modernize the patient experience, and reduce the administrative burden on providers.
Including the latest funding round, Innovaccer has raised a total of $675 million to date, from leading venture capital firms and strategic investors, including: Mubadala Capital, B Capital Group, M12 Fund, OMERS Growth Equity, Dragoneer, Steadview Capital, Tiger Global Management, Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors.
“Innovaccer is dedicated to transforming healthcare through data-driven insights and cutting-edge AI technology. We are grateful for the confidence our investors have in our vision and capabilities. This funding will enable us to push the boundaries of what’s possible in healthcare AI,” said Abhinav Shashank, Co-founder and CEO of Innovaccer. “Our goal is to make healthcare more proactive, predictive, and personalized.”