Healthtech Startup Innovaccer Raises Series C Funding from Steadview Capital, Tiger Global and others

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Innovaccer is a leading healthcare technology company founded in 2014 by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta. The company commands artificial intelligence and analytics to automate the routine workflow and reduce manual overhead to facilitate more patient-centered care. The company provides physician practices, hospitals, healthcare systems with population health management and pay for performance solution.

The company’s products have been deployed across the US in over 1,000 locations enabling more than 25,000 providers to transform care delivery and work collaboratively.

 

How the company managed to raise funds?

Innovaccer Founders - Abhinav Shashank, Kanav Hasija and Sandeep Gupta
Innovaccer Founders – Abhinav Shashank, Kanav Hasija and Sandeep Gupta

Healthcare and technology startup Innovacer raised $70 million in Series C funding round from Steadview Capital, Westbridge Capital, Tiger Global, Mubadala, and M12, which is (Microsoft’s venture fund), which brings up to total capital of $120 Million that is raised by the firm so far.

As per a statement, the startup claims that Innovaccer’s Data Activation platform has helped the customers to unify more than 3.8 Million patient records to date and has generated savings of approximately more than $400 Million.

The company has streamlined data from health plans, through 200-plus pre-built connectors primary care providers, pharmacies, labs, and hospitals and made it available to more than 25,000 providers.

 

Innovaccer Co-founder’s words on Investment

Mr. Kanav Hasija, Co-founder and Customer Success Officer at Innovaccer, addressed that-

“Despite technology growing progressively, the deep-rooted inefficiencies in the healthcare market makes it difficult t deliver patient-centered care. The fragmented nature of the current healthcare system is one of the biggest challenges we have to address, enabling healthcare as one and make care delivery substantially more efficient. The work at Innovaccer has always been focused on creating innovative technology that enables personalized care.”

 

Conclusion: With a series of funding, Innovaccer aims at generating 100 million unified patient record, which would be accessible to 500,000 team members thought its platform over the next few years and focus on digitizing healthcare by strengthening its data activation platform.

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