Fabric Secures $60 Million in Series A Funding Led by General Catalyst

Fabric Secures $60 Million in Series A Funding Led by General Catalyst

Fabric, a New York City-based company specializing in care enablement systems, has successfully raised $60 million in Series A funding. The funding round was spearheaded by General Catalyst, with participation from several other prominent investors, including Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, Box Group, and Atento Capital.

The primary objective behind this fundraising initiative is to bolster Fabric’s artificial intelligence capabilities, thereby enhancing customer efficiency. Additionally, the company aims to leverage these funds to pursue strategic merger and acquisition opportunities.

Fabric, under the leadership of CEO Aniq Rahman, offers a comprehensive care enablement system designed to automate clinical and administrative tasks. This system comprises three key solutions: the in-person care suite, virtual care suite, and engagement suite. By incorporating conversational AI and intelligent adaptive interviews, Fabric streamlines various aspects of healthcare delivery, spanning from intake and triage to routing and treatment.

Since its inception, Fabric has facilitated over 12 million patient interactions and optimized workflows for more than 3,500 clinicians. Notable clients of Fabric include Luminis Health, OSF HealthCare, MUSC Health, and Intermountain.

The significance of this funding round is further highlighted by the remarks of Holly Maloney, Managing Director at General Catalyst, who emphasized the critical role Fabric plays in addressing healthcare’s capacity constraints. Maloney praised Fabric’s founders, Aniq and Aiden, as visionary entrepreneurs uniquely positioned to tackle healthcare challenges comprehensively.

Fabric’s solutions come at a crucial juncture in the healthcare landscape, where issues such as provider burnout and workforce shortages are increasingly prevalent. Dr. Sal Abbruzzese, reflecting on the challenges faced by healthcare providers, highlighted the urgency of addressing capacity constraints.

The Engagement Suite | Source: Fabric Health
The In-Person Care Suite | Source: Fabric Health
The Virtual Care Suite | Source: Fabric Health

Fabric’s care enablement suite aims to alleviate these challenges by optimizing workflows across both virtual and in-person care settings. Saad Chaudhry, Chief Digital and Information Officer at Luminis Health, lauded Fabric’s In-person Care Suite for its efficiency improvements in emergency departments.

By focusing on enhancing clinical capacity and streamlining patient care experiences, Fabric aims to drive tangible improvements in healthcare accessibility and quality. The company’s strategic acquisitions, including Zipnosis and GYANT, underscore its commitment to revolutionizing healthcare delivery through innovative technology solutions.

Looking ahead, Fabric envisions a future where every patient can benefit from seamless and intuitive healthcare experiences. With a rapidly expanding team and a steadfast dedication to innovation, Fabric is poised to make significant strides toward achieving this vision.

Leave a Reply

Your email address will not be published. Required fields are marked *