Abridge, a startup that provides artificial intelligence-powered clinical documentation to several health systems, is raising $250 million to up the company's valuation to $2.5 billion, The Information reported.
Elad Gil, a solo investor and co-founder of genomics company Color Health, and venture capital firm IVP will co-lead the funding round, which will also include Alphabet growth investment arm CapitalG, sources told the news outlet for the Oct. 10 story.
Abridge, which was co-founded by a cardiologist and former executive at Pittsburgh-based UPMC, developed a smartphone app that ambiently records patient visits then drafts a note for the EHR. The startup's health system clients include Oakland, Calif.-based Kaiser Permanente, Sacramento, Calif.-based Sutter Health and Irving, Texas-based Christus Health.
An Abridge spokesperson declined to comment on the funding report to Becker's.