California, USA-based, the most comprehensive AI operating system for healthcare organizations, Ambience Healthcare, raised USD 70 million in Series B. The round took place on February 6, 2024. Kleiner Perkins and OpenAI Startup Fund led the financing for the company. Existing investors such as Andreessen Horowitz and Optum Ventures participated in the financing.
Purpose of financing for Ambience Healthcare
With the latest financing, Ambience Healthcare seeks to set aside open allocation for potential strategic partners. This includes Memorial Hermann, which decided to invest in Ambience after seeing the platform’s impact across the entire spectrum of care, which includes ambulatory, emergency department, and hospital inpatient settings.
The firm also focuses on fueling its product roadmap. It also seeks to build out dedicated teams for its health system partners and continue to push the frontier of the most capable AI foundation models for medicine.
What the investors & other experts have to comment
Brad Lightcap, COO of OpenAI and manager of the OpenAI Startup Fund said, “Healthcare is one of AI’s most promising opportunities to create an outsized positive impact on the world. Ambience Healthcare has built an incredible team to focus on providing a complete ecosystem of products that seamlessly fit into the workflow of practitioners, pushing both AI and medicine forward.”
Dr Priti Patel, Chief Medical Information Officer at John Muir Health, further added, “To truly move the needle on quality, cost, and access, we needed a comprehensive platform that covered every single clinical speciality at each touchpoint. From the very first appointment a patient has with one of our clinicians all the way to the back office operations of how we code and bill. Our team rigorously evaluated and pressure-tested the major solutions on the market. Ambience was the clear choice.”
Besides, Richard Long, MD, a Urologist at John Muir Health, commented, “It feels like I have the world’s best medical scribe for Urology, the world’s best CDI expert for Urology, and the world’s best patient experience specialist for Urology at my side for every single visit.”
Will Sampson, PhD, Co-Founder and Chief Learning Officer at Eventus WholeHealth, said, “Having better CDI at the point of care has resulted in better performance and compliance for our organization. This is increasing confidence in coding among our clinicians, and having access to each audit trail makes it easier for our internal auditing and monitoring team to review. Our team’s feedback goes back into the system so that we can scale improvements across all of our clinicians. Ambience is the only solution on the market to combine scribing with comprehensive CDI support across the entire payer mix, from fee-for-service all the way through full risk value-based care.”
Mamoon Hamid, Partner, Kleiner Perkins, said, “As the partner of a physician, I’ve witnessed firsthand my wife burn out from the day-to-day practice of medicine. She had to spend countless hours through nights and weekends on documentation, manual data entry, and other administrative tasks. The market has been screaming for a solution like Ambience, but even with the recent advances in generative AI, this has been an exceedingly challenging problem. Getting the medicine right is hard. Getting the user experience right is hard. Navigating the complicated web of healthcare operations and driving ROI is hard. Ambience’s users and customers–clinicians and healthcare leaders–rave about Ambience, and we couldn’t be more excited to be part of the company’s journey.”
About the company
Mike Ng and Nikhil Buduma launched the company in 2020. The mission of Ambience Healthcare is to supercharge clinicians with breakthrough generative AI technology.