Abridge Raises $300M to Help Doctors Cut Down on Paperwork
Abridge’s note-taking technology is gaining momentum as healthcare looks for solutions to reduce physician burnout.
Abridge Secures $300 Million to Ease Doctor Workloads
Abridge, a healthcare startup focused on reducing paperwork for doctors, has raised $300 million in new funding. The company is now valued at $5.3 billion, according to The Wall Street Journal.
The Series E round was led by Andreessen Horowitz, with support from Khosla Ventures. Abridge, based in Pittsburgh and San Francisco, has now raised a total of $757.5 million.
Abridge Helps Doctors Save Time on Notes
Abridge’s core product helps doctors by automatically transcribing conversations with patients. This tool reduces the time physicians spend after hours completing notes and other administrative work.
CEO and co-founder Dr. Shiv Rao says healthcare is adopting this type of technology faster than any other industry. Abridge’s system listens in on patient visits and creates detailed notes in real time, allowing doctors to focus more on care and less on paperwork.
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Other Startups Join the Push to Support Doctors
Abridge is not alone in this space. Other startups are also developing tools to help doctors manage documentation:
- Nabla: Raised $70 million recently for its note-taking assistant for medical professionals, with total funding now at $114.7 million.
- CodaMetrix: Specializes in medical coding using automation, with $95 million raised.
- Regard: Another physician note-taking platform with over $81 million in funding.
- Freed: Offers a virtual assistant for doctors and has raised $30 million.
Growing Investment in AI-Powered Healthcare Tools
Investor interest in healthcare and automation continues to grow. In 2024 alone, startups combining healthcare and automation raised $7.5 billion. This year is expected to surpass that, with $5.6 billion already invested by late June.
Abridge Leads a Growing Market
With its latest $300 million funding round, Abridge stands out as a leader in easing physician workloads. As more healthcare providers seek efficient ways to handle documentation, Abridge is well positioned to meet rising demand.