Abridge, a startup that developed artificial intelligence-based documentation solutions for healthcare, has seen rapid growth in the past year, propelled by a “tornado of tailwinds,” according to company CEO Shivdev Rao, M.D.
The company’s technology sits at the intersection of two massive trends in healthcare—clinician burnout and accelerated adoption of generative AI.
The company banked $30 million in a series B raise to support large-scale health system rollouts of its technology and accelerate product advances that will create additional value for patients, clinicians and health systems, the company said. The round values Abridge at $200 million.
Abridge has raised $62.5 million to date, Fierce Healthcare reports.
Spark Capital led the funding round and was backed by existing investor Bessemer Venture Partners. Abridge also has attracted the attention of other big-name investors including the venture arms of CVS Health and Kaiser Permanente and major provider organizations such as Lifepoint Health, Mayo Clinic, SCAN Group, UC Investments (University of California) and the American College of Cardiology. Read more.
