Funding round
Abridge Series A
Abridge, which works in generative AI solutions development in Philadelphia, raised $13M in a Series A round announced on 11 Aug 2022, led by Wittington Ventures. 6 firms took part. It is Abridge's second venture round on record; the one before was a Seed in Jan 2019.
$13M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Abridge did not disclose a valuation in this round. It came 43 months after Abridge's Seed. It is 1.6% of the $764M Abridge has raised in the venture rounds on record. Abridge raised again 14 months later: a Series B round of $30M in Oct 2023. Its next priced round, a Series C in Feb 2024, valued it at $850M.
Abridge's funding rounds
Abridge has 6 venture rounds on record. This one is highlighted.
- Seed 31 Jan 2019 $5.0M
- Series A this round 11 Aug 2022, led by Wittington Ventures $13M
- Series B 26 Oct 2023, led by Spark Capital $30M
- Series C 23 Feb 2024, led by Lightspeed Venture Partners and Redpoint Ventures $150M$850M post-money
- Series D 17 Feb 2025, led by Elad Gil and Institutional Venture Partners $250M$2.75B post-money
- Series E 1 Apr 2026, led by Andreessen Horowitz $316M$5.30B post-money
Investors
Who put money in
Wittington Ventures led the round with 5 other firms.
Lead investor
- backs 12 venture-backed companies new investor
Also in the round
- Union Square Ventures backs 171 venture-backed companies new investor
- Bessemer Venture Partners backs 412 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- UPMC Enterprises new investor
- backs 3 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,797 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was close to the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Aug 2022 | $50M | not disclosed | Section 32 and Intel Capital |
| Tech Companies | 2 Aug 2022 | $45M | not disclosed | Georgian |
| Tech Companies | 31 Aug 2022 | $45M | not disclosed | Index Ventures and Creandum |
| Tech Companies | 17 Aug 2022 | $40M | not disclosed | Kejora Capital and Performa |
| Tech Companies | 30 Aug 2022 | $40M | $300M | FunPlus and Makers Fund |
| Tech Companies | 2 Aug 2022 | $32M | not disclosed | Initialized and Goldcrest Capital |
| Tech Companies | 9 Aug 2022 | $30M | not disclosed | Lux Capital |
| Tech Companies | 25 Aug 2022 | $28M | not disclosed | WestBridge Capital |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Abridge raise in its Series A round?
Abridge raised $13M in its Series A round, announced in Aug 2022.
Who led Abridge's Series A round?
Wittington Ventures led it, with Union Square Ventures, Bessemer Venture Partners, Pillar VC, UPMC Enterprises and Whistler Capital Partners.
What was Abridge's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,797 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was close to the median.
Did Abridge raise again after this round?
Yes: a Series B round in Oct 2023 of $30M.