Private Equity

PE Fund Investments

Healthcare SaaS startup Innovaccer raises $150-M from Mubadala Capital, B Capital, others

Press Release  

Noida-based Innovaccer, a healthcare software-as-a-service (SaaS) unicorn, has raised USD 150 million in a Series E funding round which values the company at USD 3.2 Billion. Existing investor Mubadala Capital led the round with participation from other existing investors including B Capital Group, Microsoft's M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, and Tiger Global Management. Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors joined the round as new investors. The latest round - which has seen the company's valuation doubling from that in the previous round - brings the total capital raised by Innovacer to over US 375 million. It will use the new funds to invest in R&D and make new hires to strengthen its customer experience, product, and engineering talent.

From the Venture Intelligence PE-VC Deal Database: Between Aug-16 and Feb-21, Innovaccer raised $226-M from OMERS Ventures, Mubadala Investment, M12, B Capital Group, Steadview Capital, Dragoneer Investment Group, Tiger Global, WestBridge, Lightspeed Ventures, Pravega Ventures, and others.