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Innovaccer to secure $60 million from Tiger Global

Steadview Capital and Tiger Global Management, two of the most active investors in India tech market along with the Dragoneer Investment Group, are now in talks to invest around $50-$60 million in the enterprise software company Innovaccer which is focusing on putting together healthcare data collected at various points.

The San Francisco and Noida based startup will be valued at around $300 million in the new funding round, according to the report which has been revealed.

“The deal is expected to close in three to four weeks, and the company has got interest from several other investors as well,” said one of the sources.

The deal comes at a time when the enterprise and software technology startups have emerged as a hot favorite of top investors, as new unicorns like the Druva and Icertis have also emerged into space. While on the other hand, Tiger Global is closing over a half of dozen investments in the space which includes the CleverTap and Zenoti, this will be the first such investment for the Steadview. Dragoneer, which has also invested in companies like the Spotify and Uber in the US, and also earlier backed Flipkart.

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