Innovaccer joins unicorn club at $1.3 bn valuation with latest capital round
The unicorn club has got a new addition with the entry of healthcare technology startup Innovaccer. The Tech30 company has a centre in Noida and is valued at $1.3 bn after its latest undisclosed funding led by Tiger Global Management. Existing investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital, and M12 and others aso participated.
"Healthcare is on the brink of a massive transformation. Over the last ten years, we have spent billions of dollars digitising healthcare information with great success," said Abhinav Shashank, Co-founder and CEO at Innovaccer.
This is the second startup to enter the unicorn club this year, with the first one being Digit Insurance.This reveals the prowess of the Software as a Service (SaaS) startups by joining the group of other SaaS companies such as Freshworks, Zenoti, Druva, and Postman.
The latest round of funding will be used by the healthtech startup to launch Innovaccer Health Cloud. This platform-as-a-service offering combines the company's Data Activation Platform and application suite with an extensive set of platform services and tools that allow customers and partners to develop interoperable applications that improve patient engagement and operational performance.