Abridge, a startup specializing in AI-driven medical documentation, has raised $250 million in a funding round co-led by Elad Gil and IVP, the company announced on Monday.
The funding round attracted investments from Lightspeed Venture Partners, CVS Health Ventures, Redpoint Ventures, and NVentures, the venture capital arm of Nvidia.
AI Startups Continue to Dominate U.S. Investment Trends
Artificial intelligence startups accounted for a record 46.4% of the total $209 billion raised by U.S. startups in 2024, a significant increase from less than 10% a decade ago.
While Abridge did not disclose its current valuation, the Pittsburgh-based company was valued at $850 million following a $150 million funding round last year.
AI-Driven Medical Documentation at Scale
Founded in 2018, Abridge utilizes artificial intelligence to automate clinical notes and medical conversations, streamlining the documentation process for healthcare providers.
“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,” said Somesh Dash, General Partner at IVP.
Abridge’s AI-powered solutions have been deployed across 100 healthcare systems in the U.S., including rural healthcare facilities and children’s hospitals.
Fueling AI Innovation and Expansion
With the new funding, Abridge plans to enhance its AI capabilities and accelerate commercial growth, further solidifying its role in revolutionizing healthcare documentation.
The investment highlights the increasing reliance on AI-driven solutions in the healthcare sector, as efficiency, accuracy, and automation become top priorities for medical institutions.
