(Reuters) – Abridge, a startup that uses artificial intelligence to build medical documents, said on Monday it raised $250 million in a funding round co-led by Elad Gil and IVP.
Investors in the funding round included Lightspeed Venture Partners, CVS Health Ventures, Redpoint Venture and NVentures – Nvidia’s venture capital arm.
AI startups captured a record 46.4% of the total $209 billion raised by U.S. startups in 2024, compared with less than 10% a decade earlier.
Abridge did not disclose the valuation at which the amount was raised. The company was valued at $850 million after a funding round last year, in which it had raised $150 million.
Pittsburgh-based Abridge, founded in 2018, automates clinical notes and medical conversations for doctors, leveraging artificial intelligence.
“AI can be transformative by abstracting away the complexity and rules around revenue cycle as it pertains to documentation, allowing clinicians to focus on their patients while getting their documentation right the first time,” Somesh Dash, General Partner at IVP, said in a statement.
Abridge’s products have been implemented at about 100 healthcare systems in the U.S., including rural setups and children’s hospitals.
The healthcare startup said that the latest funding will help it develop AI capabilities and grow commercially.
(Reporting by Pritam Biswas in Bengaluru; Editing by Susan Fenton)
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