In a significant leap forward for healthcare technology, Innovaccer Inc., a trailblazer in healthcare AI, has announced a monumental $275 million Series F funding round. This latest investment, a blend of primary and secondary funding, saw participation from notable investors including B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12.
A Vision for the Future of Healthcare
This infusion of capital is not just a financial milestone; it represents a commitment to transforming the healthcare landscape. Innovaccer plans to leverage this funding to deepen collaborations with existing customers, enhance its AI and cloud capabilities, and cultivate a robust developer ecosystem on its platform. The company is set to introduce a suite of new copilots and agents designed to streamline various healthcare processes, including utilization management, prior authorization, clinical decision support, clinical documentation, care management, and contact center operations.
Founded in 2014, Innovaccer has positioned itself as a vital partner for healthcare organizations, offering a comprehensive suite of software solutions that empower value-based care programs, modernize patient experiences, and alleviate the administrative burdens faced by providers. The company’s technology platform has garnered Best-in-KLAS recognition across multiple categories, including Data and Analytics, Population Health Management, and CRM. This accolade underscores Innovaccer’s unwavering commitment to excellence and innovation, showcasing its ability to deliver high-quality solutions across diverse healthcare segments.
Transforming Healthcare Through Data and AI
“Innovaccer is dedicated to transforming healthcare through data-driven insights and cutting-edge AI technology,” said Abhinav Shashank, Co-founder and CEO of Innovaccer. “We are grateful for the confidence our investors have in our vision and capabilities. This funding will enable us to push the boundaries of what’s possible in healthcare AI. Our goal is to make healthcare more proactive, predictive, and personalized.”
The company’s growth trajectory is impressive. Over the past two years, Innovaccer has expanded its customer base to include six of the top ten health systems in the U.S. Additionally, it has strengthened its public sector partnerships with San Mateo County and Alameda County. Today, Innovaccer’s platform supports over 130 leading healthcare organizations, solidifying its position as the market leader in population health, data management, and AI, with a remarkable 50% year-over-year revenue growth over the past five years.
A Collaborative Approach to Healthcare Challenges
Julie Sawyer Montgomery, Executive Vice President at Danaher Corporation, emphasized the alignment between Innovaccer’s vision and the opportunities for AI in healthcare. “Innovaccer has a vision for how data and AI can power the future of healthcare that aligns with the opportunities for AI we see at Danaher. We see this investment as an opportunity to partner with Innovaccer and other industry leaders to tackle some of healthcare’s biggest challenges. By providing clinicians with the data and analytics to drive meaningful clinical insights more quickly, at the point of need, we can accelerate the transition to more effective, personalized care.”
To date, Innovaccer has raised a total of $675 million from leading venture capital firms and strategic investors. This momentum is reflected in its expanding customer base and the successful deployment of its AI platform across prominent healthcare organizations. In the past year, Innovaccer also made headlines with the acquisition of two companies—Cured and Pharmacy Quality Solutions—further enhancing its capabilities.
About Innovaccer
Innovaccer is on a mission to activate the flow of healthcare data, empowering providers, payers, and government organizations to deliver intelligent and connected experiences that advance health outcomes. The Healthcare Intelligence Cloud equips every stakeholder in the patient journey to turn fragmented data into proactive, coordinated actions that elevate the quality of care and drive operational performance. Leading healthcare organizations like CommonSpirit Health, Kaiser Permanente, and Banner Health trust Innovaccer to integrate a system of intelligence into their existing infrastructure—extending the human touch in healthcare.
For more information, visit www.innovaccer.com.