Innovaccer raises $275 mn to expand its healthcare AI capabilities

Innovaccer Inc., a leading healthcare AI company, announced it has raised $275 million in a Series F funding round. The round comprised primary and secondary investments, with participation from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12.

 

This funding will support Innovaccer’s efforts to expand collaboration with existing customers, introduce new AI and cloud capabilities, and scale its developer ecosystem. The company plans to enhance its offerings with multiple copilots and agents, including clinical decision support, clinical documentation, care management, and contact centres.

 

“Our goal is to make healthcare more proactive, predictive, and personalised,” said Abhinav Shashank, Co-founder and CEO of Innovaccer. “This funding will enable us to push the boundaries of what’s possible in healthcare AI.”

 

The company declined to disclose its valuation after this funding round.

 

Founded in 2014, Innovaccer provides software solutions to healthcare organisations, enabling value-based care programs, modernising patient experiences, and reducing administrative burdens on providers.

 

“This investment propels us into the next chapter of transforming healthcare with AI,” said Sandeep Gupta, Co-founder and COO of Innovaccer.

 

Over the past two years, Innovaccer has expanded its customer base significantly. It now serves six of the top 10 health systems in the US and has strengthened public sector partnerships with San Mateo County and Alameda County. Innovaccer’s platform supports over 130 healthcare organisations and continues to lead in population health, data management, and AI, achieving 50 per cent year-on-year revenue growth for the past five years.

 

“Innovaccer has a vision for how data and AI can power the future of healthcare, aligning with the opportunities for AI we see at Danaher,” said Julie Sawyer Montgomery, Executive Vice President, Danaher Corporation. “We see this investment as an opportunity to partner with Innovaccer and other industry leaders to tackle some of healthcare’s biggest challenges. By providing clinicians with data and analytics to drive meaningful insights at the point of need, we can accelerate the transition to more effective, personalised care.”

 

To date, Innovaccer has raised $675 million from leading venture capital firms and strategic investors. Its growing customer base and the deployment of its AI platform across top healthcare organisations underscore the company’s momentum. Over the past year, Innovaccer also acquired two companies—Cured and Pharmacy Quality Solutions—to further its capabilities.