Abridge Valued at $5.3 Billion Following $300 Million Series E Led by Andreessen Horowitz

The U.S. healthcare system spends nearly $1.5 trillion each year on administrative overhead, and much of it is tied to clinical documentation. For physicians, that means hours spent each week turning patient conversations into billing-ready notes, navigating coding protocols, and responding to auditors often well after the visit ends.

“The last thing we should ask of doctors is to become experts in reimbursement,” said Dr. Shiv Rao, co-founder and CEO of Abridge. “We’ve built systems that go to coding school, risk adjustment school, utilization management school so doctors don’t have to.”

Abridge, the Pittsburgh- and San Francisco-based startup, has raised $300 million in Series E funding led by Andreessen Horowitz, with participation from Khosla Ventures, bringing its total funding to nearly $800 million. The round comes just four months after Abridge raised $250 million in Series D financing and reportedly values the company at $5.3 billion.

Founded in 2018, Abridge develops ambient generative AI software that captures physician-patient conversations and automatically generates structured clinical documentation including ICD-10 codes, risk adjustment factors, and audit-ready evidence. The company says its platform now supports over 150 enterprise health systems, and will process more than 50 million medical conversations this year across 55 specialties and 28 languages.