Abridge, a startup that offers an AI note-taking tool for doctors, raised $300 million at a $5.3 billion valuation, according to The Wall Street Journal.
Andreessen Horowitz led the Series E round for the Pittsburgh- and San Francisco-based startup, with Khosla Ventures joining.
Several well-funded startups have emerged to try to reduce the doctor burnout associated with note-taking and other administrative duties.
“We’ve seen healthcare take up generative AI-centered solutions faster than any other industry,” Abridge CEO and co-founder Dr. Shiv Rao told the Journal. His startup’s technology works by using ambient-listening technology to tune into conversations between doctors and patients and automatically transcribe notes, reducing the after-hours time physicians spend on administrative tasks.
Along with Abridge — which has now raised $757.5 million total from investors, per Crunchbase — other well-funded startups in the AI healthcare documentation space include:
- Nabla, which has a note-taking AI copilot for doctors and other medical staff earlier this month raised $70 million in Series C funding, bringing its total raised to $114.7 million;
- CodaMetrix, an AI-driven medical coding platform that has raised $95 million in total funding;
- Regard, another AI-driven physician note-taking tool that has raised more than $81.42 million; and
- Freed, an AI clinician assistant designed to reduce time spent by health care professionals on documentation that has raised $30 million over time.
Overall, funding to startups at the intersection of AI and healthcare hit $7.5 billion in 2024. This year is on pace to top that, with $5.6 billion invested through late June, per Crunchbase data.
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