Abridge, a startup that has automated doctors’ note-taking with artificial intelligence, on Tuesday said it had raised $300 million in funding. The round, led by venture-capital firm Andreessen Horowitz with participation from Khosla Ventures, values the startup at $5.3 billion. In February, Abridge raised $250 million at a valuation of $2.75 billion. The new capital infusion will go to hiring scientists, machine-learning experts and software developers who will focus on developing new products and building advanced AI infrastructure to support large customers, said Co-founder and Chief Executive Dr. Shiv Rao. The fundraise comes at a time where so-called ambient-listening tech, which tunes in to the exchanges between doctor and patient and then transcribes the conversations, is gaining traction at hospitals and health systems. The technology is lauded for reducing physician burnout—an increasing problem for overworked doctors—and allows them to spend more time focused on patients without needing to scribble notes after hours. Abridge’s technology is now used in over 150 large health systems nationwide, the startup said, expanding from just a handful a few years ago when the Pittsburgh- and San Francisco-based startup was still piloting its technology with a few hospitals, said Rao.

Full report : Abridge, which uses AI to automate doctors’ notetaking, raised $300 million led by a16z at a $5.3 billion valuation, after raising $250M at a $2.75B valuation in February.