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Innovaccer, a venture-backed health data and AI company, is looking to raise around $250 million, Axios Pro has learned.

The big picture: Innovaccer operates in a space seeing continued consolidation amid pressure from generative AI.

Inside the room: The raise would be primary capital, and part of the fundraise could comprise between $50 million and $100 million from a strategic, per sources.

Existing investors Kaiser Permanente and Danaher could be candidates, one notes.

How it works: San Francisco-based Innovaccer helps health care organizations integrate clinical and operational data to identify high-risk patients and better coordinate care.

Follow the money: Innovaccer previously raised $675 million from a long list of investors.

Alongside Kaiser and Danaher, the cap table also includes B Capital Group, Banner Health, Generation Investment Management, M12, Bam Corner Group, Omers Growth, Mubadala, Dragoneer, Tiger Global, WestBridge Capital, CalPERS and Qatar Investment Authority.

Its Series F in 2025 was a mix of primary and secondary capital at a $3.5 billion valuation.

Catch up quick: Innovaccer has been a steady acquirer, most recently buying revenue cycle management company CaduceusHealth for $66 million in May.

Last year, it acquired Story Health to deepen its chronic and specialty care offerings and Humbi AI, which focuses on health care actuarial software, services and analytics.

State of play: Innovaccer's efforts come as New Mountain Capital-backed peer Datavant is pursuing a recapitalization while folding in fellow NMC company SmarterDx.

Neither Innovaccer nor Kaiser responded to requests for comment. Danaher declined to comment.

Scoop: VC-backed Innovaccer seeking $250M

The raise would be primary capital, and part of the fundraise could comprise between $50 million and $100 million from a strategic, per sources.

Illustration of a dollar bill being broken up into binary code

Innovaccer, a venture-backed health data and AI company, is looking to raise around $250 million, Axios Pro has learned.The big picture: Innovaccer operates in a space seeing <a class="gtmContentClick" data-vars-link-text="continued consolidation" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2025/05/27/data-dealmaking-aetion-datavant" data-vars-content-id="d8d9058a-b8f5-40db-8acc-3c005834f5d7" data-vars-headline="Scoop: VC-backed Innovaccer seeking $250M" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2025/05/27/data-dealmaking-aetion-datavant" target="_self">continued consolidation</a> amid pressure from generative AI.

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Scoop: VC-backed Innovaccer seeking $250M

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