New Delhi
Healthtech unicorn Innovaccer is geared up to turn profitable in the next two quarters, aiming to reach nearly $200 million in annualised revenue rate (ARR) by the end of this year, its Co-founder and CEO Abhinav Shashank said on Wednesday.
The company turned unicorn in 2021 with a $150 million funding round at a $3.2 billion valuation. It has raised a total of $375 million.
Shashank told to source that the company will be at about $200 million in annualised revenue rate by the end of this year and expects to be profitable in the cming two quarters.
He said that they have had a really strong growth trajectory. He also said that they are one of the fastest-growing vertical software companies globally at this point at scale. He hence believes their growth to continue over the next multiple years and be a fairly profitable business.
The San Francisco and Noida-headquartered company provides its patented health cloud technology to large hospital chains.
Innovaccer’s mission statement is similar to what the government aims to do with its ‘Ayushman Bharat Digital Mission’ stack.
In June 2022, the government announced the Unified Health Interface (UHI), which is a network of open protocols that enable the interoperability in health services. UHI is one of the foundational layers in the ‘Ayushman Bharat’ stack that focuses on the discoverability and delivery of health services.
He further added that they are hopeful that to end up playing some role in partnering with the government on some initiatives, but the pace at which the Indian government is moving on technology adoption and technology-driven healthcare, he thinks that no other country is moving at that pace.
