Funding round
Innovaccer Series B
Innovaccer, which works in healthcare data integration and activation in San Francisco, raised $25M in a Series B round announced on 10 May 2018, led by WestBridge Capital. 15 firms took part. It is Innovaccer's fourth venture round on record; the one before was a Series A in Aug 2016.
$25M
Amount raised
Not disclosed
Post-money valuation
15
Investors
1 lead
Valuation
What this round says about the price
Innovaccer did not disclose a valuation in this round. It came 21 months after Innovaccer's Series A. It is 3.9% of the $644M Innovaccer has raised in the venture rounds on record. Innovaccer raised again 21 months later: a Series C round of $70M in Feb 2020. 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 10 Aug 2016, led by Westbridge Capital Partners $16M
- Series B this round 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 led the round with 14 other firms.
Lead investor
- backs 43 venture-backed companies
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies
- 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
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
453 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 1.3 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 2 May 2018 | $78M | not disclosed | not named |
| Tech Companies | 31 May 2018 | $50M | not disclosed | Idinvest Partners |
| Tech Companies | 31 May 2018 | $38M | not disclosed | ICONIQ Capital |
| Tech Companies | 21 May 2018 | $37M | not disclosed | Insight Partners |
| Tech Companies | 1 May 2018 | $30M | not disclosed | Insight Partners |
| Tech Companies | 14 May 2018 | $30M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 16 May 2018 | $29M | not disclosed | Molten Ventures |
| Tech Companies | 30 May 2018 | $29M | not disclosed | Cathay Innovation |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Innovaccer raise in its Series B round?
Innovaccer raised $25M in its Series B round, announced in May 2018.
Who led Innovaccer's Series B round?
WestBridge Capital led it, with Lightspeed Venture Partners, B Capital, M12, Tiger Global Management and Generation Investment Management and 9 more.
What was Innovaccer's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
453 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 1.3 times the median.
Did Innovaccer raise again after this round?
Yes: a Series C round in Feb 2020 of $70M.