Heidi Raises $340M and Doubles Its Valuation to $900M
Heidi has raised US$340m at a US$900m valuation, nearly doubling its price from last October. Blackbird led the round, but only US$100m was in equity. The rest came from a General Catalyst fund that provides funding without taking shares.
Key Numbers and Facts:
- Funding: US$340m Series C led by Blackbird, totaling US$900m valuation.
- Growth: Annual recurring revenue grew from US$1m to US$50m in two years, reaching US$50m in April.
- Usage: Heidi's product has supported over 175 million patient visits and more than 67 million clinical hours across 190 countries.
- Team: Employs close to 600 people, with founders Dr Thomas Kelly, Waleed Mussa, and Yu Liu.
- Future Plans: Add up to 150 staff over the next year and expand into Asia and the Middle East.
Where Heidi Operates:
- UK: Sole supplier to NHS England Midlands, largest clinical AI procurement in NHS history.
- US: Used by Beth Israel Lahey Health in Massachusetts.
- New Zealand: Runs in every emergency department nationwide.
- Australia: Deployed at Royal Children’s Hospital Melbourne, Children’s Health Queensland, and Metro South Health.
Purpose of Funding:
Dr Kelly stated the funds will support a transition from documentation to AI agents that can perform clinical work under supervision. He expects Heidi to handle most doctor requests within six to twelve months.