OpenAI-Backed Ambience Healthcare Secures $70 Million in Series B Funding

OpenAI-Backed Ambience Healthcare Secures $70 Million in Series B Funding

Ambience Healthcare, a healthcare AI startup supported by OpenAI, has announced the successful closure of its Series B funding round, raising an impressive $70 million. The funding round was led by existing investors Kleiner Perkins and the OpenAI Startup Fund, with additional participation from Andreesen Horowitz and Optum Ventures. According to CEO Mike Ng, the round was pre-emptive, highlighting the strong confidence investors have in the company’s vision.

Ambience Healthcare specializes in providing innovative hospital software empowered by large language models, similar to the technology behind OpenAI’s ChatGPT. Their flagship product, AutoScribe, serves as a real-time AI medical scribe, assisting healthcare professionals in generating accurate medical notes efficiently. Additionally, the company offers a suite of other products facilitating tasks such as after-visit summaries, referrals, and ensuring compliance with billing codes.

Ambience Healthcare
Source: Ambience Healthcare

Founded by Michael Ng and Nikhil Buduma, who met at MIT, Ambience Healthcare aims to streamline administrative tasks for healthcare workers, allowing them to focus more on patient care. Ng’s personal experience with medical trauma served as a catalyst for the company’s mission to alleviate the burdens faced by clinicians in their daily workflows.

While Ambience Healthcare has not disclosed the specifics of the language model provider powering its solution, the company emphasizes its customization by medical speciality, ensuring versatility across various healthcare domains. Currently deployed at prestigious institutions like the University of California, San Francisco, John Muir Health, and Memorial Hermann Health System, Ambience Healthcare is making significant strides in revolutionizing healthcare operations.

The investment from OpenAI signifies the potential impact of AI in the healthcare sector. Brad Lightcap, COO of OpenAI and manager of the OpenAI Startup Fund, expressed confidence in Ambience Healthcare’s ability to leverage AI effectively in advancing medical practices. As the company continues to innovate and expand its offerings, it stands poised to make a substantial contribution to the intersection of AI and healthcare, enhancing efficiency and patient outcomes alike.

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