OpenAI-backed Ambience Healthcare secures $70M

Ambience Healthcare develops an "operating system" for healthcare organizations, aiming to streamline substantial administrative tasks faced by clinicians. They've recently secured $70M in funding to enhance its operations, primarily in the U.S., focusing on outpatient services including cardiology, oncology, paediatrics, and ENT.

• Partnerships: Ambience collaborates with institutions like UCSF and Memorial Hermann Health System, although specifics on customer count and data processed remain undisclosed.

• Strategic Investment: Investors like Kleiner Perkins and OpenAI Startup Fund led the Series B round, following investments from Andreessen Horowitz and Optum Ventures.

• Total Capital and Valuation: To date, Ambience has raised $100M, with a previous estimated valuation of $126M post-money after its Series A in 2022.

• Founders' Inspiration: Co-founders Michael Ng and Nikhil Buduma, both MIT alumni, were driven by personal medical challenges to innovate in healthcare administration. The co-founders’ earlier venture focused on AI for clinical diagnoses but ceased operations in 2020, pivoting to the administrative side with Ambience.

• Product Suite: Ambience's offerings include AutoScribe for note-taking, AutoCDI for coding and documentation support, AutoRefer for specialist referrals, AutoAVS for visit summaries, and the upcoming AutoPrep to help clinicians prepare for appointments.

While the specifics of the technology and language models used remain under wraps, the involvement of OpenAI suggests partnerships and AI advancements.