Key Takeaways
- OpenEvidence secured $75 million in Series A funding to enhance its AI medical decision-support tool, now used by over 10,000 care centers.
- Abridge raised $250 million in Series D funding to advance its AI platform that converts medical conversations into documentation for billing.
- Candid Health, Berry Street, and Fay have collectively raised over $150 million to improve medical billing and nutrition counseling services.
OpenEvidence’s Major Funding Round
OpenEvidence, dedicated to expanding medical knowledge, has raised $75 million in a Series A funding round led by Sequoia Capital. This brings the company’s total funding to over $100 million. OpenEvidence offers an AI copilot for doctors that assists in medical decisions at the point of care, with usage across more than 10,000 care centers in the U.S. The new funds will be used to train advanced medical domain-specialized Large Language Models (LLMs) and to hire top scientists in the field.
Abridge’s Significant Investment
Abridge has completed a $250 million Series D funding round co-led by Elad Gil and IVP, with participation from several notable investors, including CVS Health Ventures and NVIDIA’s NVentures. Founded in 2018, Abridge’s AI platform transforms medical conversations into clinically relevant and billable documentation across different healthcare settings. The funding will facilitate the development of new AI capabilities and support commercial growth.
Candid Health’s Series C Funding
Candid Health has secured $52.5 million in a Series C funding round, led by Oak HC/FT. The company focuses on simplifying medical billing through its revenue cycle platform, which helps increase the touchless claim rate. Over 200 healthcare organizations use Candid Health, which has raised a total of $99.5 million to date.
Berry Street’s Nutritional Counseling Expansion
Berry Street, a nutrition counseling platform, has raised $50 million from investors, including Northzone and Sofina. The platform connects patients to dietitians for one-on-one counseling covered by insurance, with access to over 1,000 registered dietitians. The new funding will enhance its nutrition platform and AI provider tools.
Fay’s Growth in Nutrition Services
Fay has secured $50 million in a Series B funding round, led by Goldman Sachs. The company, which connects users with a network of over 2,300 registered dietitians, provides both virtual and in-person visits. Fay has raised a total of $75 million to expand its dietary services and support dietitians in establishing private practices and insurance credentialing.
The content above is a summary. For more details, see the source article.
