PE Fund Investments
Digital health records enabler Innovaccer raises $275-M from B Capital, Kaiser Permanente, others
USA- and India-based, healthcare-focused software-as-a-service (SaaS) unicorn Innovaccer has closed a USD 275 million funding round, comprising both primary and secondary components, with participation from investors including B Capital Group, Kaiser Permanente and M12. Banner Health, Danaher Ventures LLC and Generation Investment Management also participated in the round.The investment will help the company expand its collaboration with existing customers, introduce new AI and cloud capabilities, and scale a developer ecosystem on the platform. The company plans to add multiple co-pilots and agents to its offerings, including utilisation management, prior authorisation, clinical decision support, clinical documentation, care management and contact centre.Founded in 2014, Innovaccer claims to serve more than 130 healthcare organisations, including major names like Orlando Health and MercyOne, helping them digitise patient records and improve operational efficiency.
Between Aug 2016 and Dec 2021, Innovaccer had raised about USD 375 M from B Capital Group, Dragoneer Investment Group, M12, Mubadala Investment, OMERS Ventures, Steadview Capital, Tiger Global, Lightspeed Ventures, Pravega Ventures and WestBridge.
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