Total amount raised
$30 Millions
Latest funding date
3/1/2025
Location
Freed has successfully raised funds through a Series A round, attracting notable investors such as Daniel Gross and Ted Zagat. The platform offers an AI-powered medical scribe that listens, transcribes, and writes SOAP notes in real time, significantly reducing the documentation burden for clinicians.
Keep reading to explore the intricacies of Freed's fundraising journey and the investors backing this innovative platform.
What Is Freed?
Freed, founded in 2022, is based in San Francisco, California. The company was established by Andrey Bannikov and Erez Druk.
Freed offers an AI-powered medical scribe designed to assist clinicians by automating the process of clinical documentation. The platform listens, transcribes, and writes SOAP notes in real time, significantly reducing the documentation burden for healthcare professionals.
With a team of 101-250 employees, Freed aims to enhance work efficiency and improve the overall workflow for clinicians.
How Much Funding Has Freed Raised?
- Series A
- Amount Raised: $30 Million
- Date: March 5, 2025
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations, enhance AI capabilities, and introduce new features to reduce clinician burnout.
Total Amount Raised: $34 Million. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm known for investing in early and growth-stage companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services.
- Notable Investments: Apple, Google, Oracle, WhatsApp.
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that focuses on early-in-revenue technology companies. They are known for their expertise in scaling businesses.
- Investment Focus Areas: SaaS, cloud computing, digital health.
- Notable Investments: Box, DocuSign, HubSpot.
- Daniel Gross
- Details: Daniel Gross is an individual investor known for his work in AI and technology. He has a background in founding and scaling tech startups.
- Investment Focus Areas: AI, technology startups, innovative tech solutions.
- Notable Investments: OpenAI, Pioneer.
- Gokul Rajaram
- Details: Gokul Rajaram is an individual investor and tech executive with experience in companies like Google and Square. He is recognized for his contributions to the tech industry.
- Investment Focus Areas: Technology, product management, innovative startups.
- Notable Investments: Square, DoorDash.
- Ted Zagat
- Details: Ted Zagat is an individual investor, associated with the Zagat Survey, a restaurant review company. He has a background in consumer services.
- Investment Focus Areas: Technology, consumer services.
- Notable Investments: Zagat Survey (acquired by Google).
What's Next for Freed?
Freed stands at the cusp of significant growth opportunities. With $30 million in Series A funding, the company is poised to expand its operations and introduce advanced AI-powered features. The healthcare industry’s increasing reliance on AI to streamline workflows and reduce clinician burnout presents a vast market for Freed's solutions. The company’s direct-to-clinician model bypasses traditional procurement cycles, allowing for rapid adoption across various medical specialties.
Future fundraising appears promising as Freed continues to demonstrate its value. The successful Series A round, led by Sequoia Capital, sets the stage for potential future investments. However, challenges such as integrating with existing EHR systems and maintaining data security will require careful navigation. As the company scales, competition from other AI healthcare startups will also be a critical factor to watch.
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