Medical conversation AI company Abridge announced an oversubscribed $12.5M Series A-1 led by Wittington Ventures. The round also had participation from all existing investors including: Union Square Ventures, Bessemer Venture Partners, Pillar Venture Capital, and UPMC Enterprises, and new investors including Turing Award winner Yoshua Bengio, and Whistler Capital. Abridge’s enterprise-focused documentation solutions structure and summarize information from any medical conversation, making it easier for systems to reduce provider burnout while increasing patient satisfaction. Armed with a proprietary dataset derived from more than 1.5 million medical encounters and more peer-reviewed papers about medical conversation AI than any other entity, Abridge has already helped more than 2,000 clinicians practice at the top of their license and 200,000 patients stay on top of their health.
“I became a cardiologist to help my patients improve their health, but the reality was that I was spending more time on my notes than with my patients,” says Dr. Shivdev Rao, CEO and co-founder of Abridge. “Abridge is the solution I always wanted myself, as a physician and as a patient — an AI-based service that leverages conversations I had with my patients to not only draft my documentation but also with the capability to send detailed care plans to them and improve the quality of their care.”
Provider burnout continues to be a serious issue for healthcare systems, especially in the aftermath of the pandemic. National studies suggest that more than 50 percent of providers experience burnout-related symptoms, and systems are anticipating healthcare staffing shortages that will cost $4.6 billion annually. Abridge aims to change that through its innovative tech-first service that automatically generates structured notes from any type of conversation — from in-person visits to telehealth and chat conversations.
