Ambience Healthcare, an ambient AI documentation company, has secured a whopping $243 million in Series C funding in a round co-led by Oak HC/FT and Andreessen Horowitz (a16z).
Existing investors participated in the round, including the OpenAI Startup Fund, Kleiner Perkins and Optum Ventures.
New investors include Town Hall Ventures, Frist Cressey Ventures, Smash Capital, Founders Circle Capital and Georgian.
WHAT IT DOES
Ambience offers an ambient AI documentation, coding and clinical workflow platform that integrates into a provider's EHR. The company says its platform is built on proprietary AI reasoning models that can handle the regulatory, operational and clinical demands of healthcare.
The company's platform uses ambient listening to automate documentation and provide clinicians with chart summaries. For administrators, it produces documentation for CDI and ICD-10 coding, prior authorizations and utilization management. The platform also produces after-visit summaries for patients.
Ambience will use the funds to scale its platform across health systems nationwide.
"When we first backed Ambience at the seed, we saw the potential for their ambient AI product to be the wedge into a number of essential clinical workflows over time," Julie Yoo, general partner at Andreessen Horowitz (a16z), said in a statement.
"In a space now crowded with point solutions, the exceptional team at Ambience has executed impressively over the years by expanding into a robust platform, grounded in real clinical needs-tailored to subspecialties, trusted by frontline providers, and delivering clear value to health systems. We're honored to continue to support Ambience to bring AI to the places where it's needed the most in healthcare."
MARKET SNAPSHOT
Last year, Ambience Healthcare secured $70 million in a Series B round co-led by Kleiner Perkins and OpenAI Startup Fund. The raise also included existing investors Andreessen Horowitz and Optum Ventures.
The company also formed a partnership with Midi Health, a women's virtual care platform, to leverage Ambience's AI operating system that is fully integrated with Athenahealth EHR.
Through the collaboration, Midi increased its number of clinicians and extended its offerings in menopause care, weight management and survivorship support.
Other organizations Ambience Healthcare has announced partnerships with include healthcare systems John Muir Health, Cleveland Clinic, Houston Methodist and Arizona-based Onvida Health.
Earlier this year, the company also announced the availability of its AI platform for health systems in Microsoft Azure Marketplace.
