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Abridge Raises $300M Series E at $5.3B Valuation to Enter Revenue Cycle Management

The injection will fund development of AI-powered tools that translate clinical notes into medical codes for streamlined billing.

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Overview

  • Andreessen Horowitz led the Series E round with participation from Khosla Ventures, lifting Abridge’s total financing to $757.5 million.
  • Abridge’s ambient-listening AI is embedded in Epic Systems and used by more than 150 major health systems across the US.
  • The company projects its technology will process over 50 million patient conversations this year and reduce clinician paperwork time by up to 70%.
  • Four months after a $2.75 billion valuation, Abridge hit $117 million in contracted annual recurring revenue in Q1 before its latest fundraise.
  • By automating note transcription and coding, Abridge directly challenges incumbents like Microsoft’s Nuance and startups such as CodaMetrix and Suki.