Heidi Health raises US$65m Series B at a US$465m valuation
Heidi Health, the Melbourne-based AI clinical notes platform, has secured US$65 million (A$98m) in a Series B. The round was led by Point72 Private Investments, with participation from existing backers Blackbird, Headline, and Latitude (Phoenix Court's growth fund). The raise values the company at US$465 million (A$704m), up more than 450% from May's US$100m valuation.
In total, US$96.6m in venture funding has now gone into Heidi. The company is also planning a US$5m "community round" for strategic investment from its doctor users.
What Heidi does
Heidi's "AI Care Partner" transcribes and processes doctor-patient conversations, producing clinical notes and follow-up materials such as referral letters and assessments. The product launched in February 2024.
The company was founded in 2021 (originally as Oscar) by CEO and former vascular surgical resident Dr Thomas Kelly, former Goldman Sachs analyst Waleed Mussa, and former Coles data scientist Yu Liu.
Why this matters for clinicians
- Time back to care: Heidi reports returning more than 18 million clinician hours in 18 months by automating administrative work.
- Consistency at scale: Support for 110 languages across 116 countries helps standardize documentation for diverse patient populations.
- Burnout and capacity: "It is untenable that healthcare demand continues to rise while clinical time continues to shrink," said Dr Kelly. "Building a sustainable healthcare system requires expanding clinical capacity without compromising clinician wellbeing or patient safety."
Adoption and reach
Clinicians across 200+ specialties have used Heidi for 73 million patient consults. The platform now supports more than two million consults weekly.
In Australia, users include Monash Health and Queensland Health Children's Hospital and Health Service. For context on one of these health systems, see Monash Health.
New leadership and who's backing
Former Salesforce executive and Plaid revenue leader Paul Williamson has joined as chief revenue officer. Microsoft's former chief medical officer, Dr Simon Kos, has taken the same role at Heidi. "Heidi's bold vision extends beyond the current promise of ambient voice technology and into a future where every clinician can leverage AI to expand their clinical capacity while protecting the human touch in healthcare," Dr Kos said.
Point72 Private Investments led the round. "We believe administrative burden is contributing to clinician burnout and capacity challenges across healthcare systems," said managing partner Sri Chandrasekar. "Heidi's platform has the potential to meaningfully improve how clinicians manage their administrative workflows." Learn more about the investor at Point72.
Where Heidi is expanding
- Headcount beyond 200, with new offices and support in the USA, UK, and Canada
- Further growth across France, Spain, Germany, Ireland, South Africa, Singapore, and Hong Kong
- A US$5m community round inviting doctors to invest
Practical steps if you're evaluating ambient clinical AI
- Run a controlled pilot across a few specialties. Measure documentation time saved, note quality, and clinician satisfaction.
- Set clear policies for consent, data retention, and privacy. Train staff on when and how to use AI during consults.
- Establish review workflows so generated notes and letters are checked before they enter the record.
- Track impact on throughput, wait times, and follow-up safety to quantify ROI beyond minutes saved.
Funding timeline at a glance
- Seed: A$5m led by Blackbird (2021)
- Series A: US$10m (October 2023); A$27m (US$16.6m) top-up led by Headline (March)
- Series B: US$65m (A$98m) led by Point72 Private Investments
- Planned community round: US$5m from doctor users
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