Abridge Stock

In a Series C funding round Abridge raised $150 million to streamline AI models for healthcare workers.

Investors continue to pour money into generative AI startups, and Abridge is riding this wave as it rapidly scales its technology across U.S. health systems. The Pittsburgh-based startup banked a hefty $150 million series C funding round to invest in more research and development to build bedrock foundation models to power both improvements to the company's existing technology and new products, CEO Shivdev Rao, M.D., told Fierce Healthcare.

Abridge, the leader in generative AI for clinical documentation, announced a Series B raise of $30 million, led by Spark Capital. The round also included existing investor Bessemer Venture Partners, as well as several leading healthcare innovators including CVS Health Ventures, Kaiser Permanente Ventures, Lifepoint Health, Mayo Clinic, SCAN Group, UC Investments (University of California), and the American College of Cardiology.

Abridge launched in 2018 and uses AI to increase the speed and accuracy of medical note-taking, leveraging a proprietary dataset derived from more than 1.5 million medical encounters. Around 5,000 doctors currently use the company's software, which automatically converts a patient-clinician conversation into a structured clinical note draft in real-time. 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.