Heidi, the Melbourne startup that turns doctor-patient conversations into clinical notes, has raised $340 million and doubled its valuation to $900 million.
Cofounder Dr Thomas Kelly announced the raise Tuesday, saying the company's ambitions always went beyond automating doctor's notes. The $340 million arrives in two pieces. Blackbird led a $100 million Series C that values Heidi at $900 million. That's double what the company was worth in its prior round, putting that earlier valuation at roughly $450 million. Heidi has not disclosed who supplied the remaining $240 million or what form it takes.
A round split between a named equity lead and an unnamed pool of capital nearly two and a half times its size is unusual for a funding announcement, and it's worth reading skeptically until Heidi says more. Healthcare AI scribes are a crowded field. Nuance's DAX and Abridge are chasing the same doctors' desks, and a $900 million valuation puts Heidi in the same league as the sector's best-funded players, at least on paper.
Until the other $240 million is accounted for, the number worth trusting is the $100 million anyone can actually verify.