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This Startup Raised $30 Million To Take On Microsoft's AI Notetaker For Doctors

Oct 26, 2023 - forbes.com
AI-powered medical scribe startup Abridge has raised $30 million in a Series B round led by Spark Capital, valuing the company at $200 million. The Pittsburgh-based firm's app uses large-language models to process doctor-patient conversations, generating a note within seconds that can be sent to the patient's electronic health record. The company, which has raised $62.5 million since its founding in 2018, is up against Nuance Communications, a firm Microsoft bought for $18.8 billion in 2022 and whose dictation software is used by half a million doctors.

Abridge's app is currently used by around 5,000 doctors, including those at the University of Pittsburgh Medical Center and the University of Kansas. The company's partnership with Epic, one of the biggest electronic health records companies in the U.S., will allow Abridge to be directly available within Epic’s app. Abridge is also working on a function that generates a patient version of the doctor’s note at a fifth-grade reading level, which can be translated into different languages.

Key takeaways:

  • Abridge, an AI-powered medical scribe startup, has raised $30 million in a Series B funding round led by Spark Capital, valuing the company at $200 million.
  • The company's app is used by doctors to record patient conversations and generate notes, with no human involvement in the process. It is currently used by around 5,000 doctors.
  • Abridge is set to compete with Nuance Communications, a company bought by Microsoft for $18.8 billion, which also offers automated medical note-taking technology.
  • Abridge is also planning to expand its services to other healthcare professionals beyond doctors, and is working on supporting around 50 languages.
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