US-based AI healthcare company Innovaccer has secured $275m in a Series F financing round, a combination of primary and secondary financing, to enhance healthcare AI.
The Series F round includes participation from B Capital Group, Banner Health, Danaher Ventures, Generation Investment Management, Kaiser Permanente, and M12.
Innovaccer intends to use the financing to expand its collaboration with existing customers, introduce new AI and cloud capabilities, and scale a developer ecosystem on the platform.
It aims to add multiple copilots and agents, including utilisation and care management, prior authorisation, clinical decision support, clinical documentation, and contact centre.
Danaher executive vice president Julie Sawyer Montgomery said: “Innovaccer has a vision for how data and AI can power the future of healthcare that aligns with the opportunities for AI we see at Danaher.
“We see this investment as an opportunity to partner with Innovaccer and other industry leaders to tackle some of healthcare’s biggest challenges.
“We believe providing clinicians with the data and analytics to drive meaningful clinical insights, more quickly, at the point of need, we can accelerate the transition to more effective, more personalised care.”
Established in 2014, Innovaccer provides a suite of software solutions to help healthcare organisations enhance care and patient experience and reduce the burden on providers.
It is a technology platform that achieved Best-in-KLAS designation across multiple categories, including data and analytics, population health management, and CRM.
In the last two years, the company has increased its customer base, currently supporting more than 130 healthcare organisations.
The company has public sector partnerships with San Mateo County and Alameda County and raised a total of $675m from top venture capital firms and strategic investors.
Its recent acquisition of Cured and Pharmacy Quality Solutions further strengthens its capabilities to transform healthcare delivery.
Innovaccer co-founder and CEO Abhinav Shashank said: “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. Our goal is to make healthcare more proactive, predictive, and personalised.”
