For Heidi co-founder and CEO Thomas Kelly, the next phase of the healthcare AI company is about proving it’s more than a wrapper around somebody else’s model.
“I think we’re one of the few real AI healthcare companies,” Kelly told Capital Brief. “Before the LLMs, we were building our own models to generate notes.”
Investors are backing that thesis with a very large cheque.
The Melbourne startup has raised USD340 million ($475 million) in fresh funding, including a USD100 million ($140 million) Series C led by existing investor Blackbird that values the company at USD900 million ($1.26 billion), and a separate USD240 million ($335 million) growth investment led by General Catalyst’s Customer Value Fund.
Phoenix Court, Point72 Private Investments and Headline also participated in the equity round.
The capital will fund two races at once: winning as many health systems as possible while the AI scribe market is still relatively open, and building the more sophisticated technology Heidi believes it will need to keep those customers as AI moves beyond note-taking.
That second challenge becomes more important as Heidi moves into higher-risk clinical work, where Kelly argues the company needs greater control over how the underlying models behave.
