For all you tech enthusiasts, here's some thrilling news! Abridge, an AI startup revolutionizing the world of medical note-taking, is celebrating a massive triumph. The exciting startup managed to secure a whopping $300 million in its Series E funding, taking its total valuation up to a staggering $5.3 billion, as reported by our trustworthy friends at the Wall Street Journal. This successful round was spearheaded by Andreessen Horowitz along with significant contributions from Khosla Ventures and comes hot on the heels of the firm’s notable $250 million fundraise in February which had taken its valuation to $2.75 billion.

Already into its 7th year, Abridge has emerged as a strong frontrunner in the bustling market of AI-assisted medical transcription, primarily due to its pioneering entry and successful collaboration with the leading health record software, Epic Systems.

Here's an impressive figure for you – in the first quarter alone, Abridge boasted a substantial $117 million in contracted annual recurring revenue. To put it in simple terms, this includes all continuous contracts that are signed, even those from clients who haven't been completely integrated into the system yet, as disclosed by The Information a month prior.

But wait, there's more! Alongside this successful round of funding, Abridge publicly expressed their plans to expand their horizons. They intend to diversify into the area of transmuting patient appointments' medical observations into AI-generated medical codes. This ingenious move puts them on the competitive map with emerging startups such as CodaMetrix, and also highlights a key feature from its existing collaborator, Epic Systems.

The brainchild of cardiologist Shiv Rao, Abridge has made an audacious assertion that its AI transcription technology is currently being employed by over 150 of America's largest health systems. The source? Go ahead, verify it for yourself right here!