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San Francisco-based health-data analytics company Innovaccer scored $275 million in a Series F funding round, which was a combination of primary and secondary funding.
The round brings the company’s total funding to $675 million.
WHAT IT DOES
Innovaccer, founded in 2014, works with life sciences companies, government organizations, providers and payers.
Its Healthcare Intelligence Cloud is a suite of tools aimed at improving value-based care, reducing the administrative burden, and improving patient engagement and workflows using health analytics and data.
The Series F funds will be used to expand the company’s work with its existing customers, scale a developer ecosystem within its platform and introduce new AI and cloud capabilities.
It plans to add several copilots and agents to its offerings, including a contact center, prior authorization, care management, clinical documentation, clinical decision support and utilization management.
“Innovaccer is dedicated to transforming healthcare through data-driven insights and cutting-edge AI technology. 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,” Abhinav Shashank, cofounder and CEO of Innovaccer, said in a statement. “Our goal is to make healthcare more proactive, predictive and personalized.”
MARKET SNAPSHOT
In 2021, Innovaccer secured two large funding rounds, including a $105 million Series D that propelled it to a $1.3 billion valuation and a $150 million Series E that bumped it to $3.2 billion.
In 2023, Innovaccer laid off 245 workers, or about 15% of its workforce, marking its second round of layoffs in less than six months. It laid off 90 employees, making up 8% of its workforce in late 2022.
In January of last year, the California-based company acquired Cured, a digital marketing and customer relationship management platform for healthcare. Innovaccer added more than 20 health systems and digital health clients to its portfolio thanks to the acquisition. Cured’s three cofounders also assumed leadership roles at Innovaccer.
Two months later, Innovccer acquired Pharmacy Quality Solutions, which provides healthcare payers and pharmacies with technology to deliver insights and guidance to support medication management for Medicaid, Medicare and commercial populations.
Other healthcare data and analytics companies include Komodo Health, Veradigm and Health Catalyst.
© 2025 MobiHealthNews is a publication of HIMSS Media
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