Health transcription giant Abridge has secured a $300 million raise backed by high-profile investors.
Venture capital firms Andreessen Horowitz and Khosla Ventures led the round, the Pittsburgh-based startup announced yesterday, bringing Abridge’s valuation to roughly $5.3 billion. The multimillion-dollar investment will power its partnerships with over 150 health corporations across the US.
Abridge’s product, an AI tool that it says it hopes to reduce burnout by simplifying medical discussions with patients, will support around 50 million medical conversations this year, according to a blog post announcing the raise.
“Every medical conversation is rich with the signals our healthcare system depends on,” CEO and co-founder Shiv Rao said in the post. “Abridge activates those signals in the background, silently handling the complexity so clinicians can focus on the human moments that matter.”
The additional funding will be used to scale its AI platform, spokesperson Emily Eng said on behalf of Abridge. It hopes to eliminate the need for coordination between clinicians and billing teams and ultimately make revenue cycle management teams’ jobs more efficient, among other things.
The news comes after a Series D raise of $250 million brought the company’s value to $2.75 billion in February.
Abridge doubles its valuation in just four months
Given its massive jump in funding since its Series D round in February, Abridge has shown steady growth. The latest round nearly doubled the company’s valuation in just a four-month span.
In total, the company has raised more than $800 million since it was founded in 2018, according to PitchBook.
Abridge has so far been at the top of Pittsburgh’s venture capital raises in recent years, raking in nearly half of Pittsburgh’s decade-high $689 million raised in Q1 2025.
In the first quarter of 2024, Abridge was also leading Pittsburgh’s fundraising. It was responsible for more than half of all regional venture capital raised in Q1 of that year. Prior to that, Abridge was among the top five earners in the final quarter of 2023.
Since significantly boosting Pittsburgh’s startup fundraising scene, Abridge has been open about looking to other cities for new hires. The most recent raise announcement comes after Abridge said in March that it was moving to hire in San Francisco, citing a need to hire “hundreds” to meet current demand.
“Pittsburgh continues to be a hub,” Eng said, “for key cross-functional talent in machine learning, clinical science and partner success at Abridge.”
