May 22, 05:48 PM

Abridge Raises at $5B Valuation; David AI, Gail, Siro Announce Major AI Funding Rounds

AI healthcare startups Abridge and Ambience Healthcare are both in advanced stages of raising new funding rounds. Abridge is reportedly in talks to raise hundreds of millions of dollars at a $5 billion valuation, nearly double its $2.75 billion valuation from a $250 million Series D round in February and following a $150 million Series C in 2024. Both companies have received term sheets. Ambience Healthcare is also seeking to raise capital at a valuation exceeding $1 billion. Both Abridge and Ambience have experienced rapid revenue growth, with Abridge reportedly doubling its annual recurring revenue in less than six months. The companies are said to be expanding their offerings beyond scribing, moving into areas such as revenue cycle management, billing, and compliance. In the AI data sector, David AI has announced a $25 million Series A round, surpassing a $100 million valuation. The company, founded by Tomer Cohen and Ben Wiley, provides high-quality audio data for training voice AI models and counts major technology companies among its customers. David AI has accumulated approximately 100,000 hours of audio data across more than 15 languages and has achieved an annualized revenue run rate exceeding eight figures. Investors in this round include Altman Capital, Amplify Partners, First Round Capital, Y Combinator, and BoxGroup. Miami-based startup Gail, founded by Matthew and Michael Vega-Sanz, has secured $8.2 million in seed funding co-led by HTwenty and Act One Ventures. Gail's AI agent product is already deployed with over 200 companies, managing nearly 5 million phone calls daily. The company plans to launch GailGPT, an AI tool tailored for regulated sectors, and intends to use the new capital for product development and expanding its team in Miami. Other notable AI-related funding rounds include Siro, a New York-based conversation intelligence platform founded by Jake Cronin and Joseph Jordan, which raised $50 million in Series B funding, and ShortTok, an AI-powered video creation platform, which secured $2.2 million.

Written with ChatGPT (GPT-4).

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