Abridge, a leading AI-powered clinical documentation platform, has raised $250 million in a Series D funding round to further develop its AI capabilities and expand its commercial reach. The round was co-led by Elad Gil and IVP and included investments from Bessemer Venture Partners, California Health Care Foundation, CapitalG, CVS Health Ventures, K. Ventures, Lightspeed Venture Partners, NVentures (NVIDIA’s VC arm), Redpoint Ventures, Spark Capital, and SV Angel.
This investment comes as Abridge surpasses 100 deployments across major U.S. health systems, including newly announced implementations at Akron Children’s, Endeavor Health, Inova, Memorial Sloan Kettering Cancer Center, and Oak Street Health (a CVS Health company). Within the last two months, the company has also secured enterprise-wide deals with Duke Health, Johns Hopkins, Mayo Clinic, and UNC Health, collectively representing thousands of clinicians.
Administrative inefficiencies in clinical documentation create significant burdens for healthcare professionals, often leading to physician burnout and revenue cycle delays. Abridge aims to solve this by integrating AI-powered documentation into clinical workflows, reducing manual effort and improving billing accuracy.
“We are excited about the potential of Abridge’s technology to enhance Inova’s clinical documentation across our care sites,” said Matt Kull, Executive VP, Chief Information and Digital Officer at Inova. “The quality of specialty-specific notes and Abridge's responsiveness to clinician feedback with rigorously tested enhancements stood out to us.”
With a strong foothold in academic medical centers, cancer hospitals, and pediatric care, Abridge is helping health systems of all sizes reduce administrative burdens while maintaining high standards of clinical documentation.
The new funding will support the expansion of Abridge’s Contextual Reasoning Engine, a sophisticated AI model designed to improve clinical documentation by:
“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. Abridge is pioneering this effort with leading health systems across the country,” said Somesh Dash, General Partner at IVP.
Since its founding in 2018 by Dr. Shiv Rao, Abridge has been at the forefront of AI-driven healthcare documentation. Its platform is deeply integrated with electronic health records (EHRs) and supports over 50 medical specialties in 28+ languages, making it a widely adopted solution across diverse care settings.
“We aspire to serve our health system partners for the decades to come,” said Dr. Shiv Rao, Abridge CEO and Founder. “This investment supports that aspiration, as well as the core research and development that differentiates our approach.”
Abridge has received multiple industry recognitions, including Best in KLAS for Ambient AI, a spot on the TIME Best Inventions of 2024, and inclusions in the 2024 Forbes AI 50 and Fortune AI 50 Innovators lists.
With a strong roster of healthcare and AI-focused investors, Abridge is well-positioned to continue its expansion. Investors in this round include established venture firms as well as strategic healthcare-focused backers, such as CVS Health Ventures and NVIDIA’s NVentures.
