AI Healthcare Startup Abridge Scores $150M to Advance Clinician-Assist Tools

In a sign of growing investor confidence in AI applications for critical industries, the machine learning-powered healthcare documentation startup Abridge has secured $150 million in Series C funding.

Led by venture capital firms Lightspeed Venture Partners and Redpoint Ventures, the oversubscribed round values Abridge at $850 million – more than quadruple its valuation just four short months ago.

Founded in 2018, Abridge aims to streamline clinicians’ administrative work through automation. The company’s AI-assisted notes and conversation tools are already benefitting thousands of doctors through partnerships with major hospital systems like the University of Kansas Health System and Yale New Haven Health.

CEO and practicing cardiologist Shiv Rao plans to use the substantial funding injection to accelerate hiring, product development, and the training of specialized medical models. As demand grows for industry-tailored AI, companies recognize increasingly that one-size-fits-all solutions will not suffice in sensitive domains like healthcare.

Abridge joins fellow startup Hippocratic, which also trains AI for clinician support, in demonstrating investors’ enthusiasm for targeted applications of generative machine learning to improve patient outcomes and provider workflow.