Bengaluru: AbbreviateA startup that uses artificial intelligence to build medical documents, said Monday that he raised $ 250 million in a financing round directed by Sell Gil and IVP.
Investors in the Round of Funds included Light Light Risk Partners, CVS Health Ventures, Redpoint Venture and Nventures – Nvidia’s Venture Capital Arm.
The new AI companies captured a record of 46.4 percent of the total of $ 209 billion raised by the new US companies in 2024, compared to less than 10 percent in the decade before.
Abridge did not reveal the valuation to which the amount was raised. The company was valued at $ 850 million after a financing round last year, in which it had raised $ 150 million.
Open, based in Pittsburgh, founded in 2018, automates clinical notes and medical conversations for doctors, taking advantage of artificial intelligence.
“The AI can be transforming abstracting complexity and rules around the income cycle in regards to documentation, allowing doctors to concentrate on their patients while obtaining their correct documentation the first time,” said Somesh Dash, general partner of IVP, in a statement.
Abridge products have been implemented in about 100 health systems in the United States, including rural configurations and children’s hospitals.
The medical care startup said that the last financing will help him develop AI capabilities and grow commercially.
(Pritam Biswas report in Bengaluru; Susan Fenton edition)
