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Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Inc42 · 1y ago

Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente

Healthtech unicorn Innovaccer is reportedly in talks with US-based health and insurance major Kaiser Permanente to raise a funding round of $200 million to $250 million. Innovaccer last raised $150 million in December 2021 at a valuation of $3.2 billion. If the latest funding talks materialize, the valuation could be lower, ranging between $2.5 billion and $3 billion. The fresh capital will be raised through a mix of primary and secondary funding. Innovaccer, founded in 2014, provides healthcare data analysis to healthcare providers, hospitals, insurance companies, and other organizations.

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Related News

Lightspeed India makes profitable exit from Innovaccer with 30% IRR

Livemint

Livemint · 1m ago

Lightspeed India makes profitable exit from Innovaccer with 30% IRR

Lightspeed India has exited its investment in Innovaccer, a healthcare artificial intelligence firm, achieving an internal rate of return (IRR) of over 30%. Innovaccer, originally from India and predominantly functioning in the US, has achieved unicorn status through significant venture funding. The company's investors include Kaiser Permanente and other global entities. This exit marks a profitable venture for Lightspeed, which has been an early institutional backer of Innovaccer.

Kaiser may steer $250 million funding in SaaS firm Innovaccer at flat valuation

Economic Times

Economic Times · 1y ago

Kaiser may steer $250 million funding in SaaS firm Innovaccer at flat valuation

US health and insurance company Kaiser Permanente is in talks to lead a $200-250 million investment in healthcare SaaS firm Innovaccer, with a mix of primary and secondary funding. The secondary transaction is expected to be at a lower valuation than the company's peak valuation of $3.2 billion in December 2021. This reflects a trend in lower valuation multiples for SaaS companies globally, with valuations now trending at 10-15x revenue multiples. Innovaccer works with leading healthcare firms in the US to digitize patient data records and improve care quality at lower costs.

US-based Kaiser may join Innovaccer’s new funding round

The Arc Web

The Arc Web · 1y ago

US-based Kaiser may join Innovaccer’s new funding round

Software company Innovaccer is reportedly in discussions to raise a new funding round, with strategic investor Kaiser Permanente and existing backers expressing interest. Innovaccer, which focuses on the US healthcare market, is aiming to raise up to $200 million through a combination of primary and secondary share sales. Kaiser has proposed an investment of around $50 million. Innovaccer was valued at $3.2 billion in December 2021 and is now being valued at around $2.5-3 billion. The company operates at an annualized revenue run rate of $130 million and aims to reach $200 million in revenue by the end of 2024.

ETtech Deals Digest: Startups raise $398.4 million in week ending January 10, up threefold on-year

Economic Times

Economic Times · 8m ago

ETtech Deals Digest: Startups raise $398.4 million in week ending January 10, up threefold on-year

Startups raised $398.4 million between January 4 and 10, showcasing a significant increase compared to the same period last year. This week's 19 deals across seed, early, and late stages included major funding for Innovaccer ($275 million), Botanic Healthcare ($29 million), Harsoria Healthcare ($20 million), Infinity Fincorp ($15 million), and GrayQuest ($9.3 million). Innovaccer gained investment from prominent investors such as B Capital Group and Kaiser Permanente, highlighting strong interest in healthcare-focused software.

Saas firm Innovaccer closes $275 million funding to build more on AI, cloud

Economic Times

Economic Times · 8m ago

Saas firm Innovaccer closes $275 million funding to build more on AI, cloud

Innovaccer Inc., a healthcare SaaS firm, secured $275 million in funding to enhance AI and cloud capabilities and expand its platform. Major investors, including B Capital Group and Kaiser Permanente, participated in this round, valuing the company at $3.2 billion. Innovaccer aims to introduce new solutions like clinical decision support and care management. Founded in 2014, the firm has achieved 50% annual revenue growth and works with over 130 healthcare organizations, including top US health systems.

Tiger Global-Backed Innovaccer Acquires Cured To Offer Customer Engagement Solutions

Inc42 · 1y ago

Tiger Global-Backed Innovaccer Acquires Cured To Offer Customer Engagement Solutions

Healthtech unicorn Innovaccer has acquired digital marketing and customer relationship management startup Cured. The acquisition will bring over 20 health systems and digital health clients to Innovaccer's portfolio and further enhance the company's healthcare CRM strategy. The founders of Cured will also take on leadership roles within Innovaccer. By integrating Cured's services with Innovaccer's CRM capabilities, the companies aim to improve the patient experience and outcomes. Innovaccer is an Indian healthtech unicorn that offers solutions deployed in over 1,600 hospitals and clinics in the US.

A Kaiser Permanente systems outage had pharmacies relying on pen and paper

The Verge

The Verge · 4m ago

A Kaiser Permanente systems outage had pharmacies relying on pen and paper

Kaiser Permanente experienced a systems outage on May 28 that disrupted hospital and pharmacy operations, forcing them to use pen and paper for prescriptions and causing delays. The outage affected various services, including e-visits and billing. Kaiser Permanente resolved the issues by the evening of May 28, restoring all technology applications, and apologized for the inconvenience. The outage was linked to network interruptions at one of their data centers, impacting locations such as Southern California and Maryland.

World Bank arm IFC to invest $20-mn in Innovaccer

The Arc Web

The Arc Web · 1y ago

World Bank arm IFC to invest $20-mn in Innovaccer

The International Finance Corporation (IFC) is in talks to invest $20 million in Innovaccer, a healthcare data software company. Innovaccer is also seeking up to $200 million in new funding, involving primary and secondary share sales. Innovaccer, valued at $3.2 billion in December 2021, operates mainly in the US, India, and the Middle East. The company aggregates medical data to improve access and cost savings for hospitals and insurers, claiming to have unified 50 million patient records and generated $1.5 billion in cost savings. Innovaccer's annualized revenue run rate is $130 million as of early 2024.

Juniper Green mulls IPO; Tiger Global-backed Innovaccer seeks funding

VCCircle

VCCircle · 1y ago

Juniper Green mulls IPO; Tiger Global-backed Innovaccer seeks funding

Grapevine: Juniper Green Energy is considering an IPO to raise around $200-250 million. The Delhi-based renewable energy firm is in talks with investment banks for the potential listing, according to sources. If successful, the funds raised from the IPO will be used to support the company's growth and expansion in the renewable energy sector.

Knight Fintech to raise $10-12 Mn in fresh round

Entrackr

Entrackr · 2y ago

Knight Fintech to raise $10-12 Mn in fresh round

Fintech startup Knight Fintech is in talks to raise fresh funds from new and existing investors, according to sources aware of the development. This would be the maiden funding round for the Mumbai-based company in 2023.

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