Abridge said Monday it raised $250 million in Series D funding and announced a new artificial intelligence tool that produces billable notes at the point of care.
Venture capital firm Institutional Venture Partners and technology investor and entrepreneur Elad Gil co-led the round in the clinical documentation company. Other investors in the round included venture firms Bessemer Venture Partners and Lightspeed Venture Partners, CVS Health Ventures and NVentures, the venture capital arm of NVIDIA.
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Ambient artificial intelligence documentation tools turn recordings of doctor-patient conversations into usable clinical notes. Investors have been increasingly interested in the tools and competition among vendors is heating up. Funding for AI scribe companies totaled $292 million in 2024, up from $87 million in 2023, according to research and venture capital firm Rock Health.
Abridge will use to funds to expand and invest in additional AI tools, it said in a news release.
Abridge raised a $150 million Series C funding round in February 2024.
