California-based Big Data startup, Innovaccer, that develops and delivers analytical and data science applications to healthcare, finance and retail industries, has raised $15.6 million in Series A investment round. The funding was led by venture firm, Westbridge Capital Partners in participation with other angel investors.
According to the company, the fresh flow of funds will be used to accelerate its footprint in the healthcare space, working closely with providers and payers alike to curb challenges in the current healthcare systems. It also plans to bring cutting edge big data technologies and algorithms to help offer better outcomes at lower costs.
In conjunction with the deal, Sumir Chadha, Managing Director, Westbridge, will be joining the Board of Directors at Innovacer. He commented, “”We were truly impressed with the team’s capabilities to deploy extremely complex use cases with high quality and tremendous speed. The customer love that they have been able to generate is phenomenal.”
Along with its integrated enterprise analytics platform, Datashop, the company promises end-to-end big data solutions to its users. Datashop’s full-stack capabilities also boasts to offer a hassle free way of delivering guaranteed ROI without writing a single line of code, claiming it to be the “iOS equivalent of big data in doing beyond integrating, cleansing, managing, analyzing, and visualizing data.
Abhinav Shashank, Co-founder and CEO, Innovaccer, said:
Real time data integration, access, interoperable exchange, and advanced analytics can be a game changer in healthcare and can result in huge outcomes.
Additionally, the company is also at the early stages of building a suite of ‘self-serve’ Machine Learning and Artificial Intelligence applications on top of the platform and aims to open access for the developer ecosystem around the product very soon.
Sandeep Gupta, Co-founder and Chief Revenue Officer, Innovaccer, stated:
With the fund raise, we should be able to aggressively disrupt the healthcare IT by leveraging big data, Machine learning and automation to deliver better care at reduced costs.
Kanav Hasija, Co-founder and Chief Customer Officer, Innovaccer, believes that this move could mean a strategic step ahead for the company and its business users. “For the first time business users are able to drive complex use cases without worrying about the inherent complexities that big data technologies bring with themselves,” he added.