Funding · Healthcare & Life Sciences

Innovaccer raises $150 million in Series E

By Startup Enthusiast · 15 December 2021

What they do

Innovaccer aggregates healthcare data to digitize solutions for hospitals and clinics

It raised $150 million in Series E funding led by Mubadala Capital at a $3.2 billion valuation

The company has raised over $375 million to date and plans to invest in R&D and hiring

Innovaccer raised $150 million in Series E financing.
The round was led by Mubadala Capital.
Existing investors B Capital Group, Microsoft's M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, and Tiger Global Management also participated.
New investors included Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors.
The company's post-money valuation is $3.2 billion.
This is up from a $1.3 billion valuation in February 2021.
Innovaccer has raised over $375 million in total funding to date.

Indian SaaS startups raised a record $4.5 billion in 2021, nearly three times the previous year.
Six SaaS unicorns were created in 2021, as many as in the previous two years combined.
Innovaccer's valuation more than doubled in less than a year, reflecting strong investor interest in healthcare SaaS.

Innovaccer offers the Innovaccer Health Cloud software platform.
The platform aggregates healthcare data such as patient profiles, risk factors, and disease types.
It digitizes solutions for hospitals, clinics, and patients.
Innovaccer has signed more than 50 customers to date.
Customers include Orlando Health, MercyOne, CommonSpirit Health, One Medical, Roche, Sentara Healthcare, Adventist Health, Providence, Florence Health, and Zus Health.

Innovaccer plans to invest in R&D, hiring, and scaling customer experience, product, and engineering talent.
It will launch a new portfolio of solutions in 2022 to tackle common clinical, operational, and financial use cases.

Product: healthcare data and analytics platform that helps hospitals, health systems and insurers unify clinical, financial and operational data
Customers: Hospitals, health systems, and health insurers that buy software to unify data and automate care workflows
How it makes money: Subscription software and platform services for healthcare organizations
What sets it apart: Best-in-KLAS recognition across multiple categories and a broad healthcare data platform

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