Innovaccer Raises $70M To Collect And Consolidate Health Data

Health data company Innovaccer reportedly landed $70 million in new funding.

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The new money comes from firms including Tiger Global Management, Steadview Capital, M12 and Dragoneer, according to TechCrunch. Innovaccer was founded in 2014 and is based in San Francisco.

Innovaccer is aiming to give doctors a complete picture of a patient’s health information. It collects and cleans data, pulling from places like insurance records and pharmacies,  TechCrunch reported. That way, physicians can have a more accurate sense of a patient’s medical history–something that’s critical when it comes to determining treatment plans.

The company’s apps run on devices at more than 500 locations, with more than 10,000 healthcare providers using Innovaccer, according to the company’s website. Customers include Hartford HealthCare and CHI Health Partners.

Innovaccer raised a $15.6 million Series A round led by Sequoia Capital India in July 2016. It raised a $25 million Series B round in May 2018, and most recently an $11 million Series B extension in January 2019. Its total funding is now at about $124.1 million, according to Crunchbase.

The company’s investors include Westbridge Capital and M12, Microsoft’s corporate investment arm. Most recently, former Athenahealth CEO Jonathan Bush joined Innovaccer’s board of directors.

Illustration Credit: Li-Anne Dias

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