Innovaccer Generates US$25 Mn in Series B Round

Published By : 10 May 2018 | Published By : QYRESEARCH

Innovaccer Inc., a San Francisco-based healthcare data platform company, has raised a Series B round of funding of US$25 mn. The round was led by Westbridge Capital. Lightspeed Ventures also participated in this funding round. The company is planning to utilize the funds to continue developing its suite and go-to-market competences, which includes improving its data platform by increasing its machine learning capabilities and raising investments in creating a new set of patient engagement applications and platform capacities for partners in order to access and construct InData, its healthcare data platform. This brings the overall capital raised by the company to US$41 mn.

Abhinav Shashank, the CEO of Innovaccer stated that in the healthcare sector, the data has been exploding; however, it has been not possible to transform that data into perceptions and action. Historically, the technology solutions have emphasized only on developing the latest applications without a focus on the interoperability and scalability. The company believes that by creating and sharing, it can maintain a level of transparency and interoperability.

In 2014, Abhinav Shashank, Sandeep Gupta, and Kanav Hasija founded this company. The products by Innovaccer have been deployed in nearly 500 locations with more than 10,000 providers leveraging it at institutions, corporate enterprises, as governmental organizations, such as UniNet Healthcare Network of Nebraska, Mercy Accountable Care Organization of Iowa, and StratiFi Health Network.

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