Innovaccer Inc, data analytics startup based out of Silicon Valley has raised $15.6 Million in Series A round. The investment round was led by WestBridge capital partners and it also saw participation from some of the prominent angel investors from the valley. Some of the notable names who participated in the round include former CTO of Yahoo, Raymie Stata, RouteScience Technologies Founder Herb Madan, Former SAIF partners principals Rohit Jain and Mukul Singhal.
Prior to this, the startup had raised an undisclosed amount of funding last year and the participants in that round included Rajan Anandan, Phanindra Sama and 500 Startups. The raised money will now be used to accelerate the operations in healthcare.
In a statement, the startup stated that the main focus is to remove the inefficiencies with the help of technology driven solutions in the healthcare domain with affordable solutions which are easily accessible. Innovaccer is trying to make a mark in driving the healthcare innovation in the time to come.
Founded in 2012 by the trio of Kanav Hasija, Sandeep Gupta and Abhinav Shashank, Innovaccer has developed its flagship product named Datashop which helps the enterprises access, manage and analyze the data with its analytical approach. It has also been working on machine learning and AI based solutions and opening its platform for the developers soon.
Some of the best customers of Innovaccer include hospitals, government institutions, health exchange institutions etc. Some of the notable named in the customer list of the startup include NASA, Harvard University, Stanford University, MIT, Catholic Health Initiatives etc.
Speaking on the development, Sumir Chadha, Managing Director WestBridge stated that the main thing which led his team to invest was the approach by the company to implement the complex solutions at such a great speed with great accuracy. He also added that Innovaccer has developed a great customer base and they literally love the tech driven solutions. Sumir will be joining the board of the startup after the round.