Kaiser Permanente leads $275M investment in healthcare data platform

Oakland, Calif.-based Kaiser Permanente and Phoenix-based Banner Health are backing a healthcare data company in a $275 million funding round.

Kaiser led the Jan. 9 series F investment in Innovaccer that also included M12, Microsoft's venture capital arm. The company said it plans to use the funding to introduce new artificial intelligence and cloud capabilities and scale its developer ecosystem.

Innovaccer, which has received $675 million in funding, now serves six of the 10 largest health systems, including Chicago-based CommonSpirit Health. The company's data platform powers value-based care, population health and patient experience initiatives.

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