Abridge, a pioneer in generative AI for clinical documentation, has secured an additional $150 million investment, building on the success of its product adopted by health systems nationwide. This funding round follows their $30 million Series B just four months ago, marking one of the largest investments in healthcare generative AI to date.
Abridge, a leading provider of generative AI for clinical documentation, has secured a significant Series C investment of $150 million, led by Lightspeed Venture Partners, who will also join the board. This round saw continued support from existing investors such as Redpoint Ventures, IVP, Spark Capital, Union Square Ventures, Bessemer Venture Partners, Wittington Ventures, Mass General Brigham Artificial Intelligence and Digital Innovation Fund (AIDIF), Kaiser Permanente Ventures, and CVS Health Ventures.
In conjunction with this investment, Abridge has announced a strategic enterprise agreement with the Yale New Haven Health System, Connecticut’s largest and most comprehensive healthcare system. This partnership will grant thousands of clinicians access to Abridge’s innovative clinical documentation solution, aimed at alleviating the cognitive burden associated with documentation tasks. By leveraging Abridge’s ambient listening technology, clinicians at Yale New Haven Health will be able to spend more valuable face-to-face time with patients.
Paul Ricci, Advisor at Lightspeed Venture Partners and former Chairman and CEO of Nuance Communications, expressed optimism about Abridge’s potential to transform healthcare by freeing doctors from documentation burdens, thus enhancing the quality of care and doctor-patient relationships. Sebastian Duesterhoeft, Partner at Lightspeed Venture Partners, highlighted Abridge’s commitment to innovation and transparency, praising their evidence-based approach and rigorous evaluation methodologies.
Abridge has assembled a world-class AI team and made significant strides in AI research and development, including the creation of purpose-built speech recognition engines and language models. Their “Linked Evidence” feature, which maps summary highlights to source transcripts and audio recordings, has become an industry standard. With this new funding, Abridge plans to further invest in fundamental research and develop advanced AI models to drive improvements in healthcare documentation and patient outcomes.
Dr. Shiv Rao, CEO and Founder of Abridge, expressed gratitude for the partnership with renowned institutions and reiterated the company’s commitment to leveraging clinician-patient conversations to revolutionize healthcare. With the support of investors and cutting-edge technology, Abridge is poised to realize its vision of building an AI platform that transforms the future of healthcare.
