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Healthtech firm Innovaccer has completed an employee stock ownership plan (ESOP) buyback worth INR 600 crore (about USD 75 million) offering liquidity to current and former employees with vested stock options.
According to an Inc42 report, an undisclosed number of employees holding restricted stock units also participated in the buyback.
The ESOP exercise follows Innovaccer's USD 275 million Series F funding round, which comprised a mix of primary and secondary capital. The round saw participation from investors including B Capital, Kaiser Permanente, and Generation Investment Management.
Founded in 2014, Innovaccer runs a healthcare data and analytics platform that helps hospitals, health systems, and insurers integrate clinical and operational data. The company has established a significant presence in the US healthcare market, where it works with provider networks and payers.
For the financial year ended March 2025, Innovaccer reported operating revenue of INR 387.71 crore and a net profit of INR 36.1 crore.
Over the past year, the company, led by co-founder and chief executive Abhinav Shashank, acquired two firms, Cured and Pharmacy Quality Solutions, to expand its product capabilities.
The buyback comes soon after SaaS unicorn BrowserStack announced a USD 125 million ESOP liquidity programme. ESOP buyback activity in 2025 has remained limited at just over USD 75 million. This compares with USD 190 million in 2024, USD 802 million in 2023, USD 440 million in 2021, and USD 200 million in 2022.
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