Funding round
Innovaccer Series C
Innovaccer, which works in healthcare data integration and activation in San Francisco, raised $70M in a Series C round announced on 14 Feb 2020, led by Tiger Global and Steadview Capital. 14 firms took part. It is Innovaccer's fifth venture round on record; the one before was a Series B in May 2018.
$70M
Amount raised
Not disclosed
Post-money valuation
14
Investors
2 leads
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 B. It is 11% of the $644M Innovaccer has raised in the venture rounds on record. Innovaccer raised again 12 months later: a Series D round of $105M in Feb 2021, at $1.30B post-money.
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 10 May 2018, led by WestBridge Capital $25M
- Series C this round 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
Tiger Global and Steadview Capital led the round with 12 other firms.
Lead investors
- Tiger Global backs 391 venture-backed companies new investor
- backs 29 venture-backed companies new investor
Also in the round
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- Mubadala backs 42 venture-backed companies new investor
- M12 backs 141 venture-backed companies new investor
- B Capital backs 156 venture-backed companies 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
- OMERS new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
289 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.8 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| SambaNova Tech Companies | 25 Feb 2020 | $250M | not disclosed | BlackRock |
| Tech Companies | 6 Feb 2020 | $65M | not disclosed | Morpheus Ventures and Alpha Edison |
| Tech Companies | 25 Feb 2020 | $60M | $1.16B | Dell Technologies Capital and ICONIQ Capital |
| Tech Companies | 12 Feb 2020 | $43M | not disclosed | Millennium New Horizons |
| Tech Companies | 19 Feb 2020 | $32M | not disclosed | Sequoia Capital India |
| Tech Companies | 24 Feb 2020 | $30M | not disclosed | Health Velocity Capital |
| Tech Companies | 19 Feb 2020 | $27M | not disclosed | not named |
| Tech Companies | 27 Feb 2020 | $15M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Innovaccer raise in its Series C round?
Innovaccer raised $70M in its Series C round, announced in Feb 2020.
Who led Innovaccer's Series C round?
Tiger Global and Steadview Capital led it, with Dragoneer Investment Group, WestBridge, Mubadala, M12 and B Capital and 7 more.
What was Innovaccer's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
289 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $40M, and this round was 1.8 times the median.
Did Innovaccer raise again after this round?
Yes: a Series D round in Feb 2021 of $105M at $1.30B post-money.