Total amount raised
$457.5 Millions
Latest funding date
February, 2025
Location
Abridge has successfully raised $250 million in its latest Series D funding round, backed by a diverse group of 31 investors including SV Angel and IVP. The platform leverages advanced AI to transform patient-clinician conversations into structured clinical notes, enhancing efficiency in healthcare settings.
Keep reading to explore the intricacies of Abridge's fundraising journey and the investors backing this innovative platform.
What Is Abridge?
Abridge, founded in 2018, is headquartered in Pittsburgh, Pennsylvania. The company was established by Florian Metze, Sandeep Konam, and Shivdev Rao.
Specializing in AI solutions for clinical conversations, Abridge transforms patient-clinician interactions into structured clinical notes in real-time. This technology integrates seamlessly with Electronic Health Record (EHR) systems, enhancing both clinician efficiency and patient care.
With a team of 101-250 employees, Abridge continues to innovate in the healthcare technology space, leveraging advanced AI to streamline medical documentation and improve patient outcomes.
How Much Funding Has Abridge Raised?
- Seed Round
- Amount Raised: $5M
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI platform for clinical conversations.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their AI technology.
- Series A
- Amount Raised: $10M
- Date: October 2020
- Lead Investors: Union Square Ventures, UPMC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their AI capabilities and integrate with more EHR systems.
- Series A
- Amount Raised: $12.5M
- Date: August 2022
- Lead Investors: Wittington Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their AI-driven documentation capabilities.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: IKS Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To form strategic partnerships and expand their market reach.
- Series B
- Amount Raised: $30M
- Date: October 2023
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Series C
- Amount Raised: $150M
- Date: February 2024
- Lead Investors: Lightspeed Venture Partners, Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and support commercial growth.
- Series D
- Amount Raised: $250M
- Date: February 2025
- Lead Investors: Elad Gil, IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and support broader applications.
Total amount raised: $457.5M. Current valuation: Not publicly disclosed.
Key Investors
- Elad Gil
- Details: Elad Gil is a prominent angel investor and entrepreneur known for his investments in high-growth technology companies. He has a reputation for identifying and investing in early-stage startups with significant potential.
- Investment Focus Areas: Technology startups, healthcare, artificial intelligence.
- Notable Investments: Airbnb, Stripe, Square.
- IVP (Institutional Venture Partners)
- Details: IVP is a venture capital and growth equity firm that primarily invests in later-stage technology companies. They have a long history of successful investments in high-growth sectors.
- Investment Focus Areas: Later-stage technology companies, software, fintech, health tech.
- Notable Investments: Slack, Twitter, Snap.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations. They invest in both enterprise and consumer sectors.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snapchat, Grubhub, Nest.
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. They focus on technology startups with high growth potential.
- Investment Focus Areas: Technology startups, SaaS, healthcare.
- Notable Investments: Netflix, Stripe, Twilio.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups at various stages, focusing on technology and media. They are known for their strategic support and significant investments in high-growth companies.
- Investment Focus Areas: Consumer, commerce, media sectors.
- Notable Investments: Twitter, Oculus, Slack.
What's Next for Abridge?
With $250 million in Series D funding, Abridge is poised to significantly enhance its AI capabilities and expand its reach across diverse healthcare settings. The platform's integration with major EHR systems and its ability to support multiple languages and specialties present vast opportunities for growth. As the healthcare industry increasingly adopts AI for clinical documentation, Abridge is well-positioned to capitalize on this trend.
Future fundraising rounds could further fuel Abridge's expansion, potentially attracting more investors as the technology proves its value. However, challenges such as ensuring data privacy, integrating with various EHR systems, and maintaining the accuracy of AI-generated notes remain. Navigating these hurdles will be crucial for Abridge's continued success and market leadership.
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