Innovaccer Inc., a San Francisco, CA-based healthcare AI company, raised $275M in Series F funding round.
The round was a combination of primary and secondary, and includes participation from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12.
The company intends to use the funds toaccelerate efforts to expand its collaboration with existing customers, introduce new AI and cloud capabilities, and scale a developer ecosystem on the platform. Innovacer plans to add multiple copilots and agents to its offerings, including utilization management, prior authorization, clinical decision support, clinical documentation, care management, and contact center.
Founded in 2014 and led by Abhinav Shashank, CEO, Innovaccer helps healthcare organizations by providing a comprehensive suite of software solutions to power value-based care programs, modernize the patient experience, and reduce the administrative burden on providers. Its technology platform achieved Best-in-KLAS recognition across multiple categories, including Data and Analytics, Population Health Management, and CRM.
Over the past two years, the company has grown its customer base, now serving 6 of the top 10 health systems and growing its public sector partnerships with San Mateo County and Alameda County. The platform now supports over 130 leading healthcare organizations, and continues to be the market-leading platform for population health, data management, and AI, with 50% year-over-year revenue growth for the past five years.
To date, the company has raised a total of $675M from leading venture capital firms and strategic investors.
FinSMEs
09/01/2024