Revolutionizing Healthcare Documentation: Abridge AI Inc. Secures $150M in Series C Funding
Abridge AI Inc., headquartered in Pittsburgh, PA, has secured a remarkable $150 million in a Series C funding round, reaffirming its position as a trailblazer in the field of generative AI for clinical documentation. The investment was led by Lightspeed Venture Partners, who will now join the board, along with significant contributions from co-lead Redpoint Ventures, IVP, Spark Capital, Union Square Ventures, Bessemer Venture Partners, Wittington Ventures, Mass General Brigham Artificial Intelligence and Digital Innovation Fund (AIDIF), Kaiser Permanente Ventures, and CVS Health Ventures.
This substantial funding injection comes a mere four months after Abridge AI’s successful $30 million Series B round, underscoring the tremendous confidence and interest in the company’s innovative endeavors.
Abridge AI, under the visionary leadership of Dr. Shiv Rao, CEO, and Founder, specializes in providing a cutting-edge platform tailored for medical conversations. Their unique approach enhances clinical documentation efficiencies, allowing healthcare professionals to concentrate more on patient care. The platform utilizes generative AI to transform patient-clinician conversations into structured clinical notes in real-time, seamlessly integrating with Electronic Medical Records (EMR). Abridge AI’s speech and language technologies are versatile, supporting evaluation in 14 languages and functionality in many more.
The company is set to utilize the newly acquired funds to expand its team and embark on the development of foundation models that leverage extensive multimodal healthcare data. Abridge AI is at the forefront of innovation, actively working on personalizing notes, deepening EMR integration, and providing clinicians with valuable after-visit insights.
In an additional exciting announcement, Abridge AI disclosed a new enterprise agreement with the prestigious Yale New Haven Health System, the largest and most comprehensive healthcare system in Connecticut. This partnership will empower thousands of clinicians with access to Abridge AI for clinical documentation, focusing on reducing cognitive burdens and enhancing face-to-face patient engagement.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
