Abridge, a startup that creates AI-powered clinical documentation tools, has raised $150 million in a Series C investment as more investors are interested in learning about AI.
As more investors want to learn about generative AI solutions tailored to particular industries, Abridge, a firm developing AI-powered clinical documentation tools, has raised $150 million in a Series C investment, the company stated.
Abridge was valued at roughly $850 million after the fundraising, which was spearheaded by Redpoint Ventures and Lightspeed Venture Partners. Based on PitchBook statistics, the company was valued at over $200 million when it last sought funding, which was only four months ago.
Founded in 2018, Abridge streamlines doctor discussions and clinical notes through automation. According to the Pittsburgh, Pennsylvania-based organization, it has agreements with hospitals such as the Yale New Haven Health System and the University of Kansas Health System, through which it works with thousands of physicians.
Abridge’s CEO, Shiv Rao, a practicing cardiologist, stated that the business intends to hire more people and utilize the additional funds to purchase and train specially designed medical AI models.
Although consumers have been won over by OpenAI’s potent GPT models, businesses are beginning to recognize the necessity of industry-specific models that have been trained with domain knowledge.
To develop a medical AI model, another firm, Hippocratic AI, has raised $65 million.
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
About us:
CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.
