US healthcare AI startup Abridge raises $150m for R&D – Verdict

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US based healthcare AI startup Abridge has successfully raised $150m towards research and development, with funding led by Lightspeed Venture Partners. Investors also include Redpoint Ventures, Spark Capital and Union Square Ventures. 

Pittsburgh based, Abridge, hopes to help clinicians avoid burnout by saving them hours on note taking via their conversational AI platform. Abridge’s platform has been extensively tested in 14 languages and can perform well even when switching quickly between languages. 

Abridge’s AI platform can also listen into conversations and provide transcripts, which can then be used to create personalised notes providing clinicians with after-visit insights into a patient’s care. 

“This company was founded on the premise that clinician-patient conversations are at the core of all healthcare,” stated Abridge’s CEO and founder Dr. Shiv Rao.

“Already, this information is powering a revolution in AI-based documentation. In the future, it will open new pathways to improve patient outcomes,” said Rao.

Rao stated that Abridge was “uniquely positioned” to create a healthcare AI platform that can bring this vision to reality. 

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The funding will be used to develop bedrock foundational models using multimodal healthcare data. 

This funding comes just four months after Abridge raised $30m series B funding round to accelerate the adoption of its conversational platform. 

Alongside its funding, Abridge also announced its new partnership with Yale New Haven Health System, which will provide many clinicians in Connecticut with Abridge’s AI. 

This partnership aims to help Connecticut’s clinicians deal with documentation at a faster pace, enabling them to spend more time face-to-face with patients. 

“Freeing doctors from the burden of documentation will dramatically improve both quality of care and the doctor-patient relationship,” stated advisor at Lightspeed Venture Partners, Paul Ricci. 

“Abridge will allow caregivers to capture an enormous amount of data that is currently being discarded or ignored, and that in turn will likely lead to new insights in managing population health,” continued Ricci. 

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