Abridge just raised $300 million in a Series E round at a $5.3 billion valuation. The boost comes from Andreessen Horowitz leading the round with Khosla Ventures also pitching in. This follows a $250 million raise in February that valued the startup at $2.75 billion.
The seven-year-old AI startup automates medical notes and is a front-runner in the AI-powered medical scribe space. It owes much of its lead to early integration with Epic Systems, the dominant electronic health record software.
In Q1, Abridge hit $117 million in contracted annual recurring revenue, including contracts not yet onboarded, according to The Information. 
Alongside the funding, Abridge is expanding to convert patient appointment notes into AI-powered medical codes. This pits it against companies like CodaMetrix and its partner Epic’s own AI operations feature.
The startup, founded by cardiologist Shiv Rao, claims its AI scribe tech is now used by over 150 of the largest health systems in the US.
More on the funding from the Wall Street Journal and Reuters.
