Innovaccer Inc., a healthcare-focused SaaS firm, has raised $275 million in a funding spherical of main and secondary components. Among the many taking part buyers have been B Capital Group, Kaiser Permanente, and M12, Microsoft’s enterprise fund. Banner Well being, Danaher Ventures LLC, and Era Funding Administration additionally participated notably.
This funding spherical, which kicked off final yr, is the largest SaaS deal amidst a world revaluation within the sector. In accordance with prior reporting by The Financial Instances says that the important thing a part of the funding spherical has stored Innovaccer’s valuation at $3.2 billion.
Innovaccer said that the funding would gas its efforts to broaden collaborations with current clients, improve its AI and cloud capabilities, and construct a strong developer ecosystem. The corporate additionally plans to introduce new instruments akin to:
Prior authorization programs
Scientific Documentation Options
Superior contact capabilities
“This funding will allow us to push the boundaries of what’s doable in healthcare AI,” stated Abhinav Shashank, co-founder and CEO of Innovaccer. “Our objective is to make healthcare extra proactive, predictive, and personalised.”
Progress Trajectory:
Based in 2014, Innovaccer has greater than 130 healthcare clients, together with massive names akin to Orlando Well being and MercyOne. The corporate allows its purchasers to digitize affected person information, improve operational effectivity, and ship value-driven healthcare options.
Key progress highlights embody:
50% year-over-year income progress for the previous 5 years.
Partnership with six of the highest ten U.S. well being programs and elevated partnerships with the general public sector.
Attaining an annual recurring income of a run price of $150 million as of final yr.
Kaiser Permanente, a long-time buyer, makes use of Innovaccer’s AI platform to combination affected person knowledge and improve value-added healthcare providers.
Funding Historical past:
Earlier than this spherical, Innovaccer had raised $150 million in December 2021 led by Mubadala Capital. The corporate’s complete funding stood at $675 million. Innovaccer was additionally a nominee for The Financial Instances Startup of the 12 months award in 2024, marking its place as one of the vital distinguished within the SaaS and healthcare know-how area.
This funding will allow Innovaccer to redefine healthcare AI and cloud options and advance its mission of constructing healthcare smarter and extra environment friendly.
