Innovaccer hits $200M ARR by fixing hospitals' fragmented data

What happened

Innovaccer, a healthcare data platform founded by Abhinav Shashank, crossed $200 million（約320億円） in annual recurring revenue (up from roughly $130 million（約210億円） last year). The company pulls data from hospitals' electronic health records and insurance claims systems, unifies it, and makes it usable for AI tools and care coordination. Gartner named it a leader in its first-ever healthcare technology Magic Quadrant this week, ranking it above Microsoft, Google, AWS, and Salesforce on vision and execution.

Why it matters

U.S. healthcare spending will top $6 trillion（約960兆円） this year, with $1.5 trillion（約240兆円） of it pure administrative waste, according to Shashank's estimate. Innovaccer's customers reported roughly $2.5 billion（約4000億円） in savings to federal regulators last year alone, mostly from care coordination. The company works with seven of the top ten U.S. health systems across 80 million patient records, addressing a core problem: without unified data infrastructure, AI companies are 'trying to put cars on a road that does not exist,' as Shashank puts it.

What to watch

Innovaccer has raised $675 million（約1100億円） total, including a $275 million（約440億円） round last year from B Capital, Danaher Ventures, Generation Investment Management, Kaiser Permanente, and Microsoft's M12. The company's thesis is a decade of unglamorous plumbing—building the data infrastructure that connects hospitals' locked-up electronic health records and insurance claims systems.