Sat. Feb 22nd, 2020

Innovaccer, the Leading Healthcare Technology Company, Raises $70 Million From Tiger Global, Steadview Capital, Dragoneer, Westbridge, Mubadala and M12 (Microsoft’s Venture Fund) – Yahoo Finance

Innovaccer, the Leading Healthcare Technology Company, Raises $70 Million From Tiger Global, Steadview Capital, Dragoneer, Westbridge, Mubadala and M12 (Microsoft's Venture Fund)  <font color="#6f6f6f">Yahoo Finance</font>

SAN FRANCISCO, Feb. 14, 2020 /PRNewswire/ — Innovaccer, Inc., a leading healthcare technology company, has raised a total of $70 million in capital in its Series C funding round from Steadview Capital, Tiger Global, Dragoneer, Westbridge, Mubadala and M12 (Microsoft’s Venture Fund) bringing the total capital raised by the company to $120M.

Founded in 2014, Innovaccer is on a mission to organize the world’s healthcare information and help healthcare organizations care as one. Innovaccer plans to use the latest funds to improve existing processes that digitize healthcare for providers, payers and patients by strengthening its Data Activation Platform.

Healthcare information remains disconnected for consumers, physicians, pharmacies, payers and myriad other care providers. Patient data is distributed across data systems in various organizations that make the entire healthcare system unnecessarily complex, redundant and prone to wastefulness. These disconnected silos of information have necessitated a unified patient record that is accessible across the care continuum to help healthcare organizations care as one. 

“Despite technology growing steadily, the deep-rooted inefficiencies in healthcare make it difficult to deliver patient-centered care. The fragmented nature of the current healthcare system is the biggest challenge we have to address in enabling healthcare to care as one and make care delivery substantially more efficient. Our work at Innovaccer has always been focused on creating innovative technology that can enable personalized care while reducing operational costs,” said Kanav Hasija, Co-founder and Chief Customer Success Officer. “We are delighted that such an esteemed group of investors has endorsed our vision of how Innovaccer will change the healthcare landscape.”

$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, Innovaccer aims to generate 100 million unified patient records accessible to 500,000 care team members through its platform over the next few years. 

Ravi Mehta, Founder and Managing Director of Steadview Capital said, “We are excited to partner with Innovaccer which is working with top care organizations in the U.S. to transform healthcare to value-based care. By using their connected care framework coupled with their leading-edge data aggregation and analytics platform, they are unifying patient records and enabling care teams to coordinate patient care at a new level. We believe this will achieve greater efficiencies, enable better care and reduce overall healthcare spend in the years to come.”

Abhinav Shashank, Co-founder and CEO at Innovaccer. “We have been fortunate to work with transformational healthcare initiatives that our amazing customers are engaged in. The vision of helping healthcare organizations care as one needs a connected and open technology framework. We are excited to be at the forefront of providing the tech platform for our customers to drive that change,” he concluded.

Sandeep Gupta, Co-founder and COO at Innovaccer. 

Sachin Saxena
Innovaccer, Inc.
415-504-3851

Cision

SOURCE Innovaccer Inc.

Source: finance.yahoo.com