Nabla, an artificial intelligence assistant company, has raised $70 million in a series C funding round led by HV Capital.
Nabla may be best known for AI-assisted clinical note-taking capabilities, but the company's tech goes far beyond ambient documentation, executives said in an interview. The company has been making headway with clients by helping them automate an increasing number of workflows and use AI to ease repetitive tasks.
The result is a company with very different aims today than just two years ago, executives said. “Our vision of what we do has evolved quickly as we discovered the future needs of our customers,” Alex LeBrun, CEO and co-founder of Nabla, told Fierce Healthcare.
Nabla is deployed across more than 130 healthcare organizations including academic medical centers, safety net hospitals, community health centers and physician groups nationwide and is in use by 85,000 clinicians.
Nabla has now raised a total of $120 million. Its $24 million series B in January 2024 brought its total funding to just over $40 million, a mere third of what the company has raised to date. The series C round also included investments by Highland Europe and DST Global along with existing investors Cathay Innovation and Tony Fadell’s Build Collective.
"Nabla stands out as a pioneer in clinical AI—not just for its bold vision, but for its enterprise-grade product and remarkable speed of execution," Alexander Joel-Carbonell, partner at HV Capital, said in a statement. "What Alex, Delphine, and Martin have built is nothing short of extraordinary. I've rarely seen a technology scale this quickly, earn this level of trust, and deliver such exceptional accuracy. Today, more than 130 Tier 1 healthcare organizations rely on Nabla, a testament to the team's ability to pair technological excellence with deep empathy for clinicians. It's a privilege to support this exceptional team on their mission to transform healthcare."
The company's revenue has grown by five times in the last six months, executives said. LeBrun attributes the spike to its ability to solve unique customer problems with its AI assistant, which has kept the company evolving.
The company had already moved beyond clinical documentation to be a general AI assistant for its partners helping with pre-charting and coding. Executives described the “long tail of specific workflows” that customers want Nabla to automate.
Nabla has been working to co-design experiences with clinical teams at their partner organizations, like helping nurses with their flow sheets. These partner-specific innovations have led to broader rollouts, such as its dictation tool in January.
With its funding announcement, Nabla also announced its expansion into agentic AI.
Nabla plans to build a proactive coding agent, a context aware agent and a custom care setting agent. The proactive coding agent will improve existing real-time support for ICD-10, HCC and MCC coding, and upcoming features will guide evaluation and management coding and give compliance nudges.
Nabla’s AI agents will be able to initiate actions in the electronic health record and aid revenue cycle management on what it calls its Adaptive Agentic Platform. The context-aware agent will be built on Nabla’s existing patient summary and pre-charting infrastructure and provide smarter documentation, initiate orders and direct EHR commands, according to a press release.
Because of customer demand for an AI assistant in the inpatient setting, Nabla will build its custom care setting agent. It’s initially being built for nurses working in the hospital, but the company plans to give customers the option to build on top of its agents for personalized solutions.
Its new vision for the company is narrowly scoped, personalized AI agents.
“The customer can create agents for every task they want to automate. One agent, and this agent can rely on the core solutions we provide at Nabla to understand a patient's context, to structure the documentation of an encounter, to extract the medical coding,” LeBrun said. “So these are agents that we provide off-the-shelf, but then it is just the beginning, and customers can build on top of that.”
The company has rapidly evolved from being predominantly an ambient documentation tool that required copy and pasting into EHRs to integrating not just with EHRs but other revenue cycle management and messaging tools that clinicians work with to allow the AI to move across platforms.
“Every doctor uses at least 10 different software every day or every week, and it would be naive to think that they will get rid of these things,” LeBrun said. “We think they will still have to use it, and the role of AI is to use the software on their behalf. So this is what we call agency integration, or robotic process automation, where your AI assistant will do many of these mouse clicks on your behalf.”
Delphine Groll, Nabla’s chief operating officer, hopes that in the coming six months, the company will be recognized for its engineering excellence and as a strong tech company. Groll invites prospective customers to do head-to-head pilots of Nabla’s ambient documentation tool with competitors, in which she is confident Nabla would rise to the top. “We are asking the market, just to open the competition because we feel confident with the product we have today,” she said.
Despite the progress Nabla has made so far, LeBrun still sees a host of problems that Nabla could solve for healthcare organizations.
“It's like a new beginning, where, after we put our foot in the door with documentation, we have so many things to do,” LeBrun said. “So we are very humble, still feeling like this is the beginning, but with so many customers, so much integrations already and now a lot of funding and a great team, we feel it's day one again.”