Heidi Health just raised $340M at a $900M valuation, which is about $1.4B in their native AUD so they might technically koala-fy as a unicorn.
One round, two vehicles. The funds were split between a $100M Series C led by Blackbird, and $240M in growth financing from General Catalyst’s Customer Value Fund.
- GC’s Customer Value Fund takes a capped slice of revenue instead of equity so that “companies with good unit economics can push their growth engine without spending their own balance sheet on it.”
- That not only suggests that GC views Heidi as one of the fastest horses in the ambient scribe race, it also shows that Heidi would rather take on a revenue-share than a company-share. Confidence is key.
The scribe days are over. Heidi was one of the early pioneers of direct-to-clinician AI with its ambient scribe, but it’s since evolved into a complete AI Care Partner for the entire enterprise.
- This video from CEO Tom Kelly, MD has a great overview of that journey, and explains why Heidi developed its task-specific models that “run circles around the frontier labs” on safety and accuracy.
- That allowed Heidi to move beyond documentation into aggregating medical evidence at the bedside, routing tasks across the care team, and answering millions of clinical questions every month.
It also helped the platform spread like wildfire. Heidi hit 90% retention before it even had a sales team, and hiring one turned it into one of the most rapidly adopted platforms in healthcare:
- Supporting 2.8M visits every week across 190 countries and 110 languages.
- Scaling ARR from $1M to $50M in two years.
- Expanding in the U.S. with partners like Beth Israel Lahey, MaineGeneral, and Monash.
What’s on the horizon? Clinical work. Heidi is honing its focus on getting the clerical paperwork off clinicians’ desks, while keeping the medical judgment solely on human shoulders.
- That means introducing new AI agents to perform the tasks weighing down clinicians outside of visits. “Pre-charting. Chasing diagnostics. Operational friction.”
The Takeaway
Heidi exists “to double the world’s capacity for care.” It’s a big mission, but fair dinkum, and Heidi knows it won’t get there by compiling a list of tasks then handing it back to a clinician to complete. That’s why it raised $340M to build the agents that complete them.
