Innovaccer, KGPian co-founded, becomes first Indian Healthtech Unicorn after Tiger Global invests
Inc42 (February 24, 2021)
Innovaccer Becomes First Indian Healthtech Unicorn After Tiger Global Invests
--Innovaccer is valued at $1.3 Bn after the Series D round
--The company has raised a total of $225 Mn from multiple investors such as M12, Tiger Global and Mubadala Capital
--The healthtech startup plans to use the latest funding to launch Innovaccer Health Cloud
Noida- and San Francisco-based Innovaccer has become the first Indian healthtech unicorn after raising an undisclosed amount in a Series D round, led by Tiger Global Management. The healthtech startup is valued at $1.3 Bn after the current round.
The company’s existing investors, including Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft’s venture fund), also participated in the round besides OMERS Growth Equity, a new investor. The company has raised more than $225 Mn, with $70 Mn coming in from the Series C round, raised in February 2020.
Founded in 2014 by IIT-Kharagpur graduates Abhinav Shashank ('10) and Kanav Hasija ('10) and IIM- Ahmedabad alumnus Sandeep Gupta, Innovaccer analyses healthcare data to provide actionable insights to healthcare providers, hospitals, insurance companies and other organisations and businesses. As the company primarily deals with global clients, its key competitors include eClinicalWorks, Allscripts CareDirector, Healthecare, MicroMD PM and others. (Read More)