Abridge, an AI startup automating medical notes, has secured a $300 million Collection E at a $5.3 billion valuation, based on the Wall Street Journal. The spherical, led by Andreessen Horowitz with participation from Khosla Ventures, follows the corporate’s $250 million February fundraise at a $2.75 billion valuation.
The 7-year-old Abridge is extensively thought-about to be the chief within the more and more crowded AI-powered medical scribe market, largely as a result of its early entry and integration with Epic Techniques, the dominant well being file software program.
In Q1, Abridge reached $117 million in contracted annual recurring income (a metric that features all signed recurring contacts, together with from clients which have nonetheless not been onboarded), The Information reported final month.
Together with the fundraise, Abridge introduced that it’s increasing into changing medical notes from affected person appointments into AI-powered medical codes, an providing that makes the corporate immediately aggressive with startups like CodaMetrix and a characteristic from its accomplice Epic Systems.
Abridge, which was based by heart specialist Shiv Rao, claims that its AI scribe expertise is used by over 150 of the most important well being methods within the U.S.