Abridge vs Ambience vs Freed
Jan-Erik Asplund
TL;DR: In the highly competitive and saturated AI medical scribe market—which pulled in $800M of VC funding in 2024, up from $390M in 2023—Abridge has differentiated by becoming Epic’s closest scribe partner, opening up preferred access to 38% of all hospital networks. Sacra estimates Abridge hit $100M in ARR as of May 2025, up from $60M in 2024 after expanding from 8K to 60K clinicians across 100+ health systems. For more, check out our full report and dataset on Abridge.
Key points from our research:
- Abridge (2018) launched as an iOS app using NLP to record doctors’ appointments, automatically sending transcripts to 1) patients to help them follow their care plans, and 2) doctors to ease their documentation burden—selling into hospitals started during COVID as Abridge added video & dial-in features to power & transcribe virtual visits. Priced at ~$500/month per clinician, Abridge is now an Epic-integrated scribe that uses LLMs to turn unstructured transcripts into structured, billing-ready notes—saving doctors 3+ hours a day on charting and lifting revenue 3–5% by auto-surfacing complete codes and billing modifiers at the point of care.
- After partnering with EHRs like Epic (Aug ’23) and Athenahealth (Feb ’25) to sell into their hospital networks, Abridge grew from ~8,000 to 60,000+ clinicians across 100+ health systems in 18 months, driving ARR from ~$60M in 2024 (up 900% YoY from $6M in 2023) to a Sacra-estimated $100M as of May 2025, announcing last month a $300M Series E (A16Z) at a $5.3B valuation (53x multiple). Compare to early AI medical scribe company Augmedix (NASDAQ: AUGX) at $45M of revenue in 2023, up 45% YoY, acquired by Commure at a $139M valuation (~3x multiple), PLG AI medical scribe Freed at $13M ARR in August 2024, up 992% YoY, and enterprise competitor Ambience at $30M ARR in May 2025, up from $19M in 2024, which has launched its own Epic integration and is reportedly raising at a $1B valuation (33x multiple).
- By giving Epic an equity stake & ongoing revenue share, Abridge stays 3-6 months ahead of AI scribes like Nabla or Ambience on integration depth, protecting their position as the default AI scribe in Epic-owned healthcare systems like Mayo, Kaiser and Duke—at the cost of limiting their degrees of freedom when it comes to competing with Epic itself. Leveraging its control of the unstructured patient-doctor conversation, Abridge is expanding from the $4B medical documentation market and going after incumbents across the ~$20B revenue-cycle and clinical-decision stack—from medical coding (Nuance Clintegrity), prior-authorizations (Cohere Health, Availity), and evidence-based decision-making via integration with UpToDate (OpenEvidence)—while steering clear of patient portals, scheduling, and other EHR modules that would put it head-to-head with its key distribution partner.
For more, check out this other research from our platform:
- Abridge (dataset)
- Freed (dataset)
- Freed at $13M ARR
- OpenEvidence (dataset)
- Brendan Keeler, interoperability lead at HTD Health, on GTM for AI medical scribes
- Function Health at $100M/year
- Virta Health at $175M revenue
- Commure at $105M ARR
- Noom at $1B ARR
- BillionToOne at $153M/yr
- Maven Clinic at $268M ARR
- Johannes Schildt & Claes Ruth, CEO and CFO of Kry, on the AI future of telehealth
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Freed revenue, growth, and valuation
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Freed at $19M ARR
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