Healthcare cloud and artificial intelligence company Innovaccer Inc. said it has raised $275 million today in a late-stage funding to scale its cloud and AI capabilities and enhance copilot offerings for healthcare professionals.

The Series F funding round attracted investments from Kaiser Permanente, Phoenix-based Banner Health, Microsoft venture capital firm M12 Ventures and Danaher Ventures. To date, the company has raised around $675 million including this round.

Innovaccer provides healthcare organizations with a way to unify their data resources and records using a suite of software to reduce administrative burdens across departments. This includes patient data aggregation, digital health records, handling claims and integrating third-party data.

Co-founder and Chief Executive Abhinav Shashank said the company plans to greatly expand the company’s AI tools this year. Innovaccer intends to incorporate the technology atop its already existing unified data layer to support multiple AI copilots and agents for utilization management, prior authorization, clinical decision support, clinical documentation, care management and contact center support.

“Our goal is to make healthcare more proactive, predictive, and personalized,” said Shashank.

Artificial intelligence is revolutionizing clinical documentation and healthcare in a myriad of ways. It can act as a transcription copilot for physicians, assist with continuity of care by helping communicate between departments, assist with diagnosis by processing vast amounts of data and use that same data to provide customized treatment plans.

Innovaccer is one of a number of companies looking to use AI to improve health outcomes for patients and make the lives of medical professionals easier including Abrige AI Inc. and clinical AI support tool Regard. Large hospital networks including Mayo Clinic have also explored the use of generative AI, the same technology powering large language models such as Google LLC’s Gemini, for improving healthcare.

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