OpenAI-Backed Ambience Raises $243M in Series C, Reaching $1B+ Valuation
San Francisco-based AI startup Ambience Healthcare has raised $243 million in Series C funding, bringing its valuation to over $1 billion, according to Bloomberg. The round was co-led by Andreessen Horowitz and Oak HC/FT, with participation from existing investors including the OpenAI Startup Fund, Kleiner Perkins, and Optum Ventures. New investors in the round include Frist Cressey Ventures, Town Hall Ventures, Smash Capital, Georgian, and Founders Circle Capital.
Founded in 2020, Ambience provides an AI platform that automates medical documentation, coding, and workflow support across outpatient, emergency, and inpatient settings. Its software integrates with major electronic health record systems (EHR) and is currently used by providers such as Cleveland Clinic, UCSF Health, Memorial Hermann and Houston Methodist.
The platform integrates directly with Epic, Oracle Cerner, athenahealth, and other major EHRs. Within Epic, Ambience operates inside the Epic Toolbox, allowing clinicians to work within Hyperdrive and Haiku without copy-pasting, manual uploads, or switching between systems. It uses the Epic Ambient Module and native FHIR APIs to read and write directly into the Epic chart to reduce friction and increase reliability.
Ambience UI within the Epic Toolbox; Source: Ambience
Platform Use Cases:
- For clinicians:
- Automates documentation with ambient listening.
- Provides specialty-specific chart summaries.
- Includes ICD-10 code suggestions and real-time compliance checks directly in the EHR workflow.
- Reduces documentation time and cognitive burden.
- For administrators:
- Standardizes workflows across coding, clinical documentation integrity (CDI), prior authorization, and utilization management.
- Produces complete, compliant documentation in real time.
- Supports operational review with structured chart outputs.
- For patients:
- Improves understanding and follow-through via after-visit summaries.
- Enables more engaged clinician interaction by automating background documentation tasks.
The company plans to use the funding to expand its platform to additional hospitals and clinics and to expand its existing 180-person team.
Topics: Startups & Deals
