Microsoft joins Innovaccer's $70M funding round

Healthcare data startup Innovaccer closed a $70 million Series C financing round that included participation from Microsoft's M12 venture fund, according to a news release sent to Becker's Hospital Review.

The latest infusion of capital brings the company's fundraising total to $120 million; Microsoft's M12 also joined Innovaccer's Series B funding in early 2019.

Innovaccer's platform, which is used by healthcare provider clients such as Hartford (Conn.) HealthCare and counts Microsoft and Amazon Web Services as partners, organizes data from EHRs, medical claims and lab systems to provide hospitals, ACOs and other healthcare organizations with a comprehensive, unified patient record.

"Despite technology growing steadily, the deep-rooted inefficiencies in healthcare make it difficult to deliver patient-centered care. The fragmented nature of the current healthcare system is the biggest challenge we have to address in enabling healthcare to care as one and make care delivery substantially more efficient," Kanav Hasija, co-founder and chief customer success officer of Innovaccer, said in the release. "Our work at Innovaccer has always been focused on creating innovative technology that can enable personalized care while reducing operational costs."

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