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Total amount raised
$675 Million
Latest funding date
2025-01-09
Location
Innovaccer has raised funding across nine tracked rounds, with total funding reported at USD 675 million as of July 2026. Its latest primary round was a USD 275 million Series F in January 2025; no lead investor was named. The San Francisco company builds an AI and data platform for healthcare providers and has acquired five companies, most recently CaduceusHealth in May 2026.
What Is Innovaccer?
Innovaccer is a San Francisco healthcare technology company that uses AI and data to improve outcomes, patient engagement, and administrative efficiency for providers. Its platforms include Innovaccer Gravity and the Healthcare Intelligence Cloud. The company is led by CEO Abhinav Shashank and remains privately held.
Innovaccer's solutions include data activation, AI-powered assistants, and industry-specific care tools, and the company has received multiple Best-in-KLAS awards. In July 2026 it said it had crossed USD 200 million in annual recurring revenue and works with seven of the ten largest US health systems.
How Much Funding Has Innovaccer Raised?
- Seed Round
- Amount Raised: USD 2,500,000
- Date: May 2015
- Lead Investors: Peak XV Partners
- Series A
- Amount Raised: USD 15,600,000
- Date: July 2016
- Lead Investors: Peak XV Partners
- Series B
- Amount Raised: USD 25,000,000
- Date: May 2018
- Lead Investors: WestBridge Capital
- Series B
- Amount Raised: USD 11,000,000
- Date: January 2019
- Lead Investors: M12 - Microsoft's Venture Fund
- Series C
- Amount Raised: USD 70,000,000
- Date: February 2020
- Series D
- Amount Raised: USD 105,000,000
- Date: February 2021
- Lead Investors: Tiger Global Management
- Series E
- Amount Raised: USD 150,000,000
- Date: December 2021
- Lead Investors: Mubadala Capital Ventures
- Series F
- Amount Raised: USD 275,000,000
- Date: January 2025
- Secondary Market
- Date: January 2025
Total Amount Raised: USD 675 million according to Fortune (July 2026) and Tracxn; the disclosed rounds listed above sum to USD 654.1 million. No lead investor was named for the January 2025 Series F, though participants included B Capital Group, Banner Health, Danaher Ventures, Generation Investment Management, Kaiser Permanente, and M12. Current Valuation: USD 3.45 billion as reported by third-party data providers following the January 2025 Series F. The company itself last disclosed USD 3.2 billion at its December 2021 Series E. As of September 2026, the company's latest disclosed primary round is its January 2025 Series F.
Key Investors
- Peak XV Partners
- Details: Peak XV Partners led Innovaccer's Seed round in 2015 and its Series A in 2016.
- Investment Focus Areas: Technology, healthcare, consumer internet
- Notable Investments: Flipkart, Ola, Byju's
- WestBridge Capital
- Details: WestBridge Capital led the USD 25,000,000 Series B in May 2018.
- Investment Focus Areas: Technology, financial services, healthcare
- Notable Investments: Nazara Technologies, Vistaar Financial Services, Aptus Value Housing Finance
- M12 - Microsoft's Venture Fund
- Details: M12 - Microsoft's venture arm - led the USD 11,000,000 Series B in January 2019.
- Investment Focus Areas: Artificial intelligence, cloud computing, cybersecurity
- Notable Investments: Livongo, Asana, Innovaccer
- Tiger Global Management
- Details: Tiger Global Management led the USD 105,000,000 Series D in February 2021.
- Investment Focus Areas: Technology, consumer internet, software
- Notable Investments: Facebook, LinkedIn, Spotify
- Mubadala Capital Ventures
- Details: Mubadala Capital Ventures led the USD 150,000,000 Series E in December 2021.
- Investment Focus Areas: Technology, healthcare, energy
- Notable Investments: C3.ai, Waymo, Innovaccer
What's Next for Innovaccer?
Innovaccer has been acquiring instead of raising. On May 21, 2026 it acquired the assets of CaduceusHealth, a revenue cycle management provider founded in 1997 that supports roughly 4,000 providers. The deal builds an autonomous revenue cycle within its Flow suite; Axios Pro reported the undisclosed price at USD 66 million. That was its fifth acquisition, following Story Health, Humbi AI, Cured, and Pharmacy Quality Solutions.
In a July 2026 Fortune profile, CEO Abhinav Shashank said annual recurring revenue had crossed USD 200 million, up roughly 54% from about USD 130 million. The company works with seven of the ten largest US health systems. Shashank has said the company would not seriously consider an IPO until it generates USD 400 million to USD 500 million in ARR.
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