Abhinav Shashank, CEO, Innovaccer
Innovaccer was founded by Abhinav Shashank, Kanav Hasija and Sandeep Gupta in 2014.
They have developed the Innovaccer Health Cloud, which they envision as a complete software platform for health care organisations. Among its customers in the US who use its platform to unify previously siloed data are Orlando Health, MercyOne, and CommonSpirit Health.
“We’ve been working a lot on helping our customers bridge the gap between digital health and health care, and also building an open ecosystem of companies that can develop applications on top of our platform,” CEO Shashank
tells Forbes India after the company’s biggest funding round that also nearly tripled its private value.
Last December, Innovaccer announced its $150 million Series-E round at a $3.2 billion valuation, bringing its total funding at the time to about $375 million.
And there was high praise from investors: “We have been investors in Innovaccer since 2019, and believe that the company has all the necessary pillars to define the new gold standard of how the health cloud should be implemented by providers, payers, and life sciences companies,” Alaa Halawa, partner and head of the US ventures business at Mubadala Capital, said in a statement.
Several companies have tried and failed to create a common data framework to connect the health care industry, due to extreme industry complexities or technology challenges, according to Halawa. Innovaccer’s
growth reflects its success, he said.
“And now we are also expanding into clinical AI, which is about getting guidance from research and putting it into the care pathway of the doctor,” said Shashank.