Abridge has successfully raised $457.5 million over six funding rounds, achieving a valuation of over $500 million. The platform leverages advanced AI to transform medical conversations into structured clinical notes in real-time.
Keep reading to explore the intricacies of Abridge's fundraising journey and the investors backing this innovative healthcare technology platform.
What Is Abridge?
Abridge, founded in 2018 by Shiv Rao MD, is headquartered in Chicago, New York City, and San Francisco. The company specializes in AI solutions for clinical conversations, transforming patient-clinician interactions into structured clinical notes in real-time.
With a mission to enhance healthcare understanding, Abridge's platform integrates deeply with Electronic Medical Records (EMR) and provides AI-generated summaries that map to ground truth. This helps providers trust and verify the output quickly.
Currently, Abridge employs between 201-500 people, including a diverse team of MDs, AI scientists, PhDs, creatives, technologists, and engineers.
How Much Funding Has Abridge Raised?
- Series D
- Amount Raised: $250,000,000
- Date: February 2025
- Lead Investors: Spark Capital, Lightspeed Venture Partners, Bessemer Venture Partners, CVS Health Ventures, IVP, Nvidia, Elad Gil
- Motivation Behind the Round: To expand the use of their Ambient AI technology across 100 health systems.
- Series C
- Amount Raised: $150,000,000
- Date: February 2024
- Lead Investors: Spark Capital, Lightspeed Venture Partners, Bessemer Venture Partners, IVP, Nvidia
- Motivation Behind the Round: For scaling operations and further development of their AI technologies.
- Series B
- Amount Raised: $30,000,000
- Date: October 2023
- Lead Investors: Spark Capital, Bessemer Venture Partners, CVS Health Ventures
- Valuation at Round: $200M
- Motivation Behind the Round: To expand the company's market reach and enhance their AI capabilities.
- Series A1
- Amount Raised: $12,500,000
- Date: August 2022
- Lead Investors: Bessemer Venture Partners
- Motivation Behind the Round: To support the development of new features and improve existing AI functionalities.
- Series A
- Amount Raised: $10,000,000
- Date: October 2020
- Lead Investors: Bessemer Venture Partners, Esther Dyson, Zen Chu
- Motivation Behind the Round: To accelerate product development and expand the team.
- Seed
- Amount Raised: $5,000,000
- Date: November 2018
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
Total Amount Raised: $457.5M
Current Valuation: Over $500M
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a leading venture capital firm that has invested in numerous successful startups. They have a strong presence in the technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, enterprise.
- Notable Investments: Snap, Affirm, MuleSoft.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is one of the oldest venture capital firms, known for its investments in early and growth-stage companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Cloud computing, cybersecurity, healthcare.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Spark Capital
- Details: Spark Capital is a venture capital firm that focuses on early and growth-stage investments. They are known for backing innovative technology and media companies.
- Investment Focus Areas: Technology, media, entertainment.
- Notable Investments: Twitter, Oculus, Slack.
- CVS Health Ventures
- Details: CVS Health Ventures is the venture capital arm of CVS Health, focusing on investments that improve healthcare delivery and patient outcomes. They aim to drive innovation in the healthcare sector.
- Investment Focus Areas: Healthcare innovation, digital health, patient care technologies.
- Notable Investments: Not explicitly mentioned in the sources.
- Kaiser Permanente Ventures
- Details: Kaiser Permanente Ventures is the corporate venture capital arm of Kaiser Permanente. They invest in companies that align with their mission to improve healthcare quality and affordability.
- Investment Focus Areas: Healthcare services, digital health, medical devices.
- Notable Investments: Omada Health, Ginger, Big Health.
What's Next for Abridge?
As Abridge looks to the future, the opportunities are vast. The company is poised to expand its AI-driven clinical documentation solutions to more health systems, leveraging multimodal healthcare data to create new foundation models. With a substantial $150 million Series C funding round and an enterprise agreement with Yale New Haven Health System, the potential for widespread adoption is significant.
Future fundraising opportunities are likely, given the rapid uptake of their product and the substantial Series C funding. Abridge may pursue additional rounds to scale operations, further R&D, and expand market reach. However, challenges such as ensuring responsible AI deployment, seamless integration into existing healthcare systems, and managing multimodal data complexities remain.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Abridge and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
