Innovaccer, a San Francisco-based healthcare technology company, raised $70M in Series C funding.
Backers included Tiger Global, Steadview Capital, Dragoneer, Westbridge, Mubadala and M12 (Microsoft’s Venture Fund), ) bringing the total capital raised by the company to $120M.
The company intends to use the funds to expand its business reach and strengthen its Data Activation Platform.
Founded in 2014 by Abhinav Shashank, CEO, and Kanav Hasija, Chief Customer Success Officer, Innovaccer is a healthcare technology company which leverages artificial intelligence and analytics to automate routine workflows and reduce manual overhead to facilitate more patient-centered care. Its Data Activation Platform has helped customers unify more than 3.8 million patient records and generate savings of more than $400M. Through 200+ pre-built connectors, Innovaccer has streamlined data from health plans, primary care providers, pharmacies, labs and hospitals, and made it available to more than 25,000 providers. By further advancing its core technology, the company aims to generate 100 million unified patient records accessible to 500,000 care team members over the next few years.
The platform has been implemented in healthcare institutions, government organizations, and corporate enterprises including Catholic Health Initiatives, MercyOne, Orlando Health, Hartford Healthcare, and Stratifi Health.