On December 15, 2021, Innovaccer Inc. announced a $150 million Series E round at a $3.2 billion valuation, driven by rapid customer adoption of the Innovaccer Health Cloud. The round was led by Mubadala Capital, with participation from existing investors B Capital Group, Microsoft’s M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, and Tiger Global Management, and new investors Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors. Innovaccer’s Series E round brings the total capital raised by the company to over $375 million. Wilson Sonsini Goodrich & Rosati advised Innovaccer on the financing.

Founded in 2014, Innovaccer has built the Innovaccer Health Cloud, a complete software platform used by leading healthcare organizations—including Orlando Health, MercyOne, and CommonSpirit Health—that unifies previously siloed data and helps them achieve better care quality at lower cost. Innovaccer plans to use the new funding to invest in R&D and recruit new hires as it rapidly scales its customer experience, product, and engineering talent.

The Wilson Sonsini team that advised Innovaccer on the financing included partners Raj Judge and Melissa Rick and associates Jocqui Kaup and Amaan Shaikh.

For more information, please see Innovaccer’s press release.