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Economic Times
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Healthcare startup Abridge tops $5 billion valuation
- Healthcare startup Abridge raises $300 million at a $5.3 billion valuation led by Andreessen Horowitz and Khosla Ventures.
- The funding round aims to improve revenue cycles and enhance communication between clinicians and billing teams.
- AI-focused startups have gained significant interest from VC firms with substantial funding rounds and high valuations.
- Search startup Glean valued at $7.2 billion in a recent financing round led by Wellington Management.
- Andreessen Horowitz is focusing on AI investments and plans to raise a substantial fund to tap into global interest in U.S. AI companies.
- Abridge, founded in 2018, automates clinical notes and medical conversations for doctors using AI.
- David George, A16z's general partner, highlighted Abridge's role in addressing rising healthcare costs and burdens on clinicians and patients.
- Abridge partners with over 150 enterprise health systems in the U.S.
- The latest funding follows a $250 million raise earlier this year, with investor Elad Gil, known for backing fintech firm Stripe and IVP, co-leading.
- Abridge's valuation increased from $850 million last year to $5.3 billion in the recent funding round.
- The platform expanded to cover inpatient care and streamline outpatient orders.
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