Abridge AI, a healthcare technology startup specialising in artificial intelligence for medical professionals, is on the brink of securing $250m in a new funding round, Siliconangle reported.
Technology investor Elad Gil and IVP are expected to lead the investment, with participation from Alphabet’s CapitalG fund, The Information observed citing sources.
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This funding is set to value Abridge AI at a pre-money valuation of $2.5bn, a substantial increase from its estimated $200m valuation last year.
Abridge AI offers an artificial intelligence (AI) platform for physicians, designed to automate documenting medical notes and uploading to hospital’s Electronic Health Record (EHR) system.
The platform operates through a mobile app that physicians can activate before each appointment, recording conversations, transcribing them, and using the transcripts to generate medical notes automatically.
While the platform does not fully automate note-taking, it does streamline the process.
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By GlobalDataPhysicians must review and edit the AI-generated drafts for accuracy, aided by a feature called Linked Evidence, which connects AI-generated sentences in medical notes to their corresponding transcript excerpts. This integration is claimed to simplify es error detection.
The Abridge AI platform is compatible with Epic, an EHR management application. It allows physicians to edit AI-generated notes within Epic’s mobile client, eliminating the need to switch between multiple tabs and thereby enhancing workflow efficiency.
Powered by internally developed AI models, Abridge AI’s technology understands over 14 languages and clinical terms across more than 50 medical specialties.
The company asserts that its algorithms significantly outperform other AI models tailored for healthcare tasks.
The latest development of Abridge AI’s pursuit of additional funding follows an earlier $150m funding round closed in February 2024.
At that time, the company announced that a portion of the capital would be invested in developing new AI models to improve its medical note platform and to create new, unannounced products.
With an extra $250m potentially in its coffers, Abridge AI plans to be better equipped to manage the substantial costs of building custom AI models and to strengthen its position in the increasingly competitive AI startup landscape.
Recently, Suki, a startup specialising in AI assistants for the healthcare sector, raised $70m in its Series D funding round.
