Healthtech platform Innovaccer makes $150 mn at $3.2 bn valuation

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Healthtech platform Innovaccer on Wednesday announced a $150 million Series E round at a $3.2 billion valuation, driven by rapid customer adoption of the Innovaccer Health Cloud.

The round was led by Mubadala Capital, with participation from existing investors B Capital Group, Microsoft’s M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, Tiger Global Management, and other new investors.

The round brings the total capital raised by the company to over $375 million.

“We’ve reached a turning point in healthcare, where the world of fragmented, fee-for-service ‘sick care’ is giving way to a new world of integrated, value-based, preventive care,” said Abhinav Shashank, co-founder, and CEO of Innovaccer.

“Providers, payers, and life sciences companies recognize the urgent need for a new, open platform that brings all healthcare data together to provide a singular view of the patient, and enables friction-free care across the entire patient journey,” he added.

Innovaccer plans to use its new funding to invest in R&D and recruit new hires as it rapidly scales its customer experience, product, and engineering talent.

“In just a few short years, Innovaccer has built the most successful data activation platform in the healthcare industry as proven by record rates of industry adoption,” said Alaa Halawa, partner and head of the US Ventures business at Mubadala Capital.

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