Innovaccer to entire unicorn startup club after it receives $100-$150 million in funding from Tiger Global

As per the latest reports a silicone valley based software startup, Innovaccer which focuses on healthcare industry is currently in talks with Tiger Global to raise about $150 million in funding and this will make it India’s newest unicorn startup and it will make its valuation at over a billion dollars.

Innovaccer was founded by Abhinav Shashank, Kanav Hasija and Sandeep Gupta in 2015 and the company was valued at $400 million in Feb 2020. Last year the startup had raised $70 million from Tiger Global, Dragoneer Investments, Lightspeed Venture Partners India, Steadview Capital and Microsoft Venture Fund M12.

The company has grown 100% by year-on-year basis and that main aim of Innovaccer is to use the data available in healthcare sector and provides physician practices, hospitals other healthcare providers with population health management and Pay-for-performance solutions.

The startup also provides solutions for care and referral management & patient engagement. During the pandemic, the company developed that tools which helped in to establish no physical contact with patients up to some extent and digitization of medical records and medicine inventory help in the rise of the Innovaccer.

Saas market has been booming for a long time but the global pandemic has helped burn the fire brighter which was already simmering at a steady pace. Tiger Global is currently looking to double it’s investment in the startup and double down on his returns.

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