Innovaccer is now valued more than PineLabs and ShareChat

Innovaccer , India’s first healthtech unicorn was founded in 2014 by Indian Institute of Technology (IIT)-Kharagpur graduates Abhinav Shashank and Kanav Hasija, and Indian Institute of Management (IIM)- Ahmedabad alumnus Sandeep Gupta. The company works as healthcare data provider to actionable insights in the healthcare providers, hospitals, insurance companies and other businesses. The US is its biggest market.

Innovaccer is now valued at $3.2 billion, after raising $150 million in a funding round led by Mubadala Capital. The Existing investors Facebook’s cofounder Eduardo Saverin-led B Capital, Microsoft’s M12 fund, Tiger Global, Steadview Capital, OMERS Growth Equity, Dragoneer also participated in the round, along with new investors Whale Rock Capital Management, Avidity Partners, and

Schonfeld Strategic Advisors.

Innovaccer has crossed the valuation of Indian startups like vernacular social media platform Share Chat, online investment platform Groww, merchant platform PineLabs, and others.The company’s funding announcement coincides with surgical care startup Pristyn Care raising $96 million at a valuation of $1.4 billion. It is the second healthtech to enter the unicorn club.

The company plans to use this capital to invest in research and development (R&D) and hire in the scales of its customer success, product, and engineering talent.

The company currently has 100 vacancies across engineering, product, and business functions.