Abridge, which develops artificial intelligence (AI) solutions for medical documentation, has raised $30m in a Series B funding round to increase the adoption of its technology.
The fundraise was led by Spark Capital, who was joined by current investor Bessemer Venture Partners.
Other investors, including CVS Health Ventures, University of California (UC) Investments, the American College of Cardiology, Kaiser Permanente Ventures, Lifepoint Health, Mayo Clinic, and SCAN Group, also participated in the round.
This funding will help Abridge expand the adoption of its AI solution in US healthcare systems.
Abridge's AI software claims to convert patient-clinician conversations into structured clinical notes in real-time, saving clinicians over two hours a day on administrative tasks.
According to a press statement, recent deployments have shown that the AI solution generated over 91% of notes across more than 40 medical specialities, with clinicians providing minimal input.
Spark Capital general partner Will Reed said: “Spark Capital is proud to lead this industry-defining investment in Abridge.
“We chose to invest in Abridge based on their deep AI-native talent led by Zack Lipton (Chief Scientific Officer), their commitment to building solutions around deep clinical workflows, and the overwhelming positivity from customers.”
Abridge recently partnered with Epic to integrate its solution with Epic's clinical workflows and has seen deployments with healthcare systems, including The University of Kansas Health System, UPMC, and Emory Healthcare, among others.
This collaboration facilitates the full deployment of the solution in a two-week timeframe.
UCI Health chief innovation officer Scott Joslyn said: “At University of California Irvine (UCI) Health, our dedicated focus is on enhancing operational efficiency and simplifying documentation for our physicians and caregivers.
“The decision to invest in Abridge reflects our commitment to achieving these goals and, importantly, addressing clinician burnout.
“We recognise the impact of streamlined processes in alleviating the burdens on our healthcare professionals.”
