Less than two months since raising a landmark $140 million, UpStream Healthcare has partnered with a Silicon Valley unicorn.
Greensboro-based UpStream, a fast-growing value-based primary health care company, has entered into a multi-year agreement with Silicon Valley-based Innovaccer, a health care software company.
Founded in 2014, Innovaccer has raised over $370 million according to Crunchbase and achieved the coveted unicorn status in 2021.
UpStream will use Innovaccer’s cloud-native platform to scale its care model across the nation and in turn help to more than double the population on Innovaccer’s platform.
“We couldn’t have found a better partner than Innovaccer, or a better platform than the Innovaccer Health Cloud, to help us scale to meet demand, support growth and execute our commitments,” said Dr. Sanjay Doddamani, UpStream CEO and cofounder. “Innovaccer helps us stitch together all the clinics, different tool sets and environments we work across, without being hampered by technology limitations.
“Practices on the UpStream platform have access to Innovaccer’s in-practice population support tools like its Physician Engagement and Patient Outreach solutions and reliable data insights at the point of care to succeed where others have struggled to deliver great results in value-based care."
In April 2022, UpStream began using the Innovaccer Health Cloud, Data Activation Platform and Application Suite to power its proprietary technology platform, allowing UpStream to interoperate with new providers. This ensures unified patient records, integrated workflows and analytics that providers need.
UpStream has rapidly expanded since it launched in 2018, supporting more than 1,000 primary care physicians and 180,000 Medicare patients in three states. The company employs about 300.
“Limitless, rapid scalability is a key benefit of choosing our cloud-native platform,” said Abhinav Shashank, cofounder and CEO of Innovaccer. “UpStream has captured lighting in a bottle with their innovative approach to value-based primary care. The last thing any fast-growing company like UpStream needs is for growth to be stalled by their core technology platform.”
