Microsoft, VC firms invest $35M in healthcare data platform Innovaccer

Innovaccer, a healthcare data startup, closed a $35-million Series B funding round led by Microsoft's venture capital arm M12.

Innovaccer said it will use this funding to continue to build its healthcare data platform, which helps hospitals, ACOs and other healthcare facilities extract actionable insights by integrating data from EHRs, medical claims and lab systems and applying artificial intelligence.

Since launching in 2014, Innovaccer has raised $51 million in capital.

"As the importance of value-based care grows, technology needs to deliver the desired scalability and interoperability," Innovaccer CEO Abhinav Shashank said in a news release. "There is enough data [in healthcare], but the ability to transform that data into insights and action is still not there."

Innovaccer's most recent funding round included investments from M12, investment firm Westbridge Capital and venture capital firm Lightspeed Venture Partners, according to TechCrunch.

"We look to invest in startups addressing huge markets with best-in-class deep technology," Rashmi Gopinath, partner at M12, said in the news release. "Innovaccer's approach to data aggregation and analytics fundamentally helps healthcare organizations implement value-based care models and improve care delivery."

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