Digital health unicorn Innovaccer has laid off 245 employees.

InnovaccerA health data analytics startup aiming for unicorn status in 2021 has laid off 245 workers, or about 15% of its workforce.

The first Reported by Inc.42, the cuts marked the second round of company layoffs in as many months. In September, Innovaccer confirmed. 90 employees were laid off.which was 8% of its workforce at that time.

Innovaccer said the cuts affect workers across geographies and company verticals.

Cofounder and CEO Abhinav Shashank said in a statement, “Invoxar has always believed in empowering our customers to accelerate their transformations, leading to higher quality care for patients and populations. Improved experiences, and improved financial and operational performanceā€¯. “This will be our main focus as the industry shifts from a predominantly fee-for-service model to value-based, customer-centric care. Therefore, we are looking to double our core capabilities and streamline our systems. are taking much-needed steps to. organizational focus.”

A big trend

Innovaccer announced two major funding rounds in 2021, including a $105 million Series D That brought it to a price of $1.3 billion and a $150 million Series E That brought it to $3.2 billion. The company was founded in 2014.

Digital Health Funding Significantly slower After last year’s boom in 2021, esp Later stage investment. A number of digital health and health tech companies have followed suit. Dismissal Since the summer, often as a factor citing the larger economy.

In January, the appraisal company Cue health He said he would lay off about 26 percent of his staff. Hybrid provider Carbon health More layoffs announced Alphabet indeed He said it would cut staff amid a major restructuring. Prescription Digital Therapy Company Brain Interactive reported that it would cut 30% of its workforce. and virtual care giant Teladoc Health 300 employees were laid off..

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