Funding round
Innovaccer Series A
Innovaccer, which works in healthcare data integration and activation in San Francisco, raised $16M in a Series A round announced on 10 Aug 2016, led by Westbridge Capital Partners. 17 firms took part. It is Innovaccer's third venture round on record; the one before was a Seed in May 2015.
$16M
Amount raised
Not disclosed
Post-money valuation
17
Investors
1 lead
Valuation
What this round says about the price
Innovaccer did not disclose a valuation in this round. It came 15 months after Innovaccer's Seed. It is 2.4% of the $644M Innovaccer has raised in the venture rounds on record. Innovaccer raised again 21 months later: a Series B round of $25M in May 2018. Its next priced round, a Series D in Feb 2021, valued it at $1.30B.
Innovaccer's funding rounds
Innovaccer has 8 venture rounds on record. This one is highlighted.
- Seed 1 Jan 2015 amount not disclosed
- Seed 13 May 2015 $3.0M
- Series A this round 10 Aug 2016, led by Westbridge Capital Partners $16M
- Series B 10 May 2018, led by WestBridge Capital $25M
- Series C 14 Feb 2020, led by Tiger Global and Steadview Capital $70M
- Series D 24 Feb 2021, led by Tiger Global Management $105M$1.30B post-money
- Series E 15 Dec 2021, led by Mubadala Capital $150M$3.20B post-money
- Series F 9 Jan 2025, led by B Capital $275M$3.45B post-money
Investors
Who put money in
Westbridge Capital Partners led the round with 16 other firms.
Lead investor
- Westbridge Capital Partners new investor
Also in the round
- 500 Global backs 327 venture-backed companies new investor
- Six Sigma Academy new investor
- backs 2 venture-backed companies new investor
- B Capital backs 156 venture-backed companies new investor
- M12 backs 141 venture-backed companies new investor
- Tiger Global Management new investor
- Generation Investment Management new investor
- backs 12 venture-backed companies new investor
- Danaher Ventures LLC new investor
- Banner Health new investor
- Schonfeld new investor
- Whale Rock Capital Management new investor
- Mubadala Capital backs 61 venture-backed companies new investor
- OMERS new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- backs 29 venture-backed companies new investor
Joined the board: Sumir Chadha (Westbridge Capital Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
503 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $6.8M, and this round was 2.3 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 11 Aug 2016 | $22M | not disclosed | Insight Partners |
| Tech Companies | 2 Aug 2016 | $13M | not disclosed | Sandaire |
| Tech Companies | 8 Aug 2016 | $12M | not disclosed | SV Health Investors |
| Tech Companies | 23 Aug 2016 | $10M | not disclosed | OpenView |
| Tech Companies | 16 Aug 2016 | $10M | not disclosed | Greylock Partners |
| Tech Companies | 11 Aug 2016 | $7.0M | $33M | Lerer Hippeau |
| Tech Companies | 15 Aug 2016 | $6.7M | not disclosed | Target Global and OpenOcean |
| Tech Companies | 23 Aug 2016 | $6.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Innovaccer raise in its Series A round?
Innovaccer raised $16M in its Series A round, announced in Aug 2016.
Who led Innovaccer's Series A round?
Westbridge Capital Partners led it, with 500 Global, Six Sigma Academy, Start Smart Labs, B Capital and M12 and 11 more.
What was Innovaccer's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
503 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $6.8M, and this round was 2.3 times the median.
Did Innovaccer raise again after this round?
Yes: a Series B round in May 2018 of $25M.