Australian clinical AI startup Heidi raised $340 million on 22 September, including a Series C that valued it at $900 million — almost double its previous valuation, Bloomberg reported.
Key points
- Blackbird Ventures led the $100 million Series C; General Catalyst’s Customer Value Fund led a separate $240 million growth investment.
- Heidi says annual recurring revenue reached $50 million in April 2026, up from $1 million approximately two years earlier.
- The company is extending its clinical documentation software into tasks completed under clinician supervision.
Blackbird leads Heidi’s $100 million Series C
Existing investor Blackbird Ventures led the $100 million equity round, Bloomberg reported. The other $240 million came through a growth investment led by General Catalyst’s Customer Value Fund, according to Pulse 2. The two components give Heidi funding for its expansion beyond software that records consultations and produces clinical notes.
Phoenix Court, Point72 Private Investments and Headline, all existing investors, also took part in the Series C, Pulse 2 reported. Heidi puts its total capital raised at $436.6 million. Its new valuation is attached to the Series C, while the Customer Value Fund investment is described separately as growth capital.
Heidi is directing the financing towards wider use of its products in healthcare systems, product development, clinical research and regulatory work, according to Pulse 2. The company is developing tools intended to carry out more of the administrative and clinical work around a patient visit, with a clinician reviewing the result.
Pranav Singhvi, a co-founder and partner at the Customer Value Fund, said the fund backs companies with “excellent unit economics” as they expand their growth operations. He described product and engineering investment as spending made from a company’s own balance sheet. The remarks set out the fund’s approach, rather than financial terms for Heidi’s investment.
Heidi reports $50 million in recurring revenue
Heidi says its annual recurring revenue reached $50 million in April 2026, compared with $1 million approximately two years earlier. Its platform now supports approximately 2.8 million patient visits a week, according to company figures reported by Pulse 2.
Heidi puts its cumulative activity since launch at over 67 million clinical hours across more than 175 million patient visits. Its reported visit total was 73 million at the time of its Series B financing, while the clinical-hours total has more than tripled since September 2025. These are measures of activity across the platform, distinct from the company’s annual recurring revenue.
Heidi reports use in 190 countries and 110 languages. It also puts enterprise activation at approximately 62% among its healthcare-organisation customers. Those figures cover different aspects of adoption: where the software is used, how much work passes through it and activation within customer organisations.
The company was selected as the sole supplier for NHS England Midlands, Pulse 2 reported. In the United States, Beth Israel Lahey Health uses Heidi. The company also reports deployments at Australian hospitals and across every emergency department in New Zealand. Those customers place the software in clinical settings beyond individual use.
Heidi extends clinical notes into supervised tasks
Heidi’s existing products span several parts of a consultation. AI Scribe transcribes visits, Evidence gives clinicians access to research at the point of care, Remote captures audio and Dictate converts speech to text, PYMNTS reported. The company is expanding that range towards software that prepares additional work for a clinician to review.
Heidi co-founder and chief executive Thomas Kelly said the company’s aim was for AI to complete tasks under clinicians’ supervision. Heidi is also putting part of the financing towards clinical evidence, quality-management systems and regulatory submissions for its planned capabilities. The company says clinicians will retain control of clinical decisions as the tools undergo testing and validation.
Other companies are pursuing clinical software beyond note-taking. OpenEvidence offers a medical search engine, while OpenAI has ChatGPT for Clinicians and AWS offers software aimed at automating healthcare administrative tasks, PYMNTS reported. Heidi’s current product range combines documentation, information retrieval and audio capture as it develops its additional workflow tools.
Heidi introduced Evidence in March 2026 and says the product has answered more than 10 million queries since launch. The company has also introduced Remote, a wearable audio device designed for settings that include operating rooms and community clinics.
