Australian healthcare startup Heidi has closed a $65-million Series B funding round, led by Point72 Private Investments, according to a company statement on Monday.
The round, which valued the firm at $465 million, also saw participation from existing investors Blackbird, Headline, and Local Globe.
The fundraise comes just months after Heidi secured $16.6 million in a Series A follow-on round anchored by venture capital firm Headline. The March round was joined by LocalGlobe, Anthology, and existing investors Blackbird, HESTA, Possible Ventures, and Archangel Ventures.
Founded in 2019, Heidi helps clinicians handle admin tasks such as documentation, form filling, and task management. It is used in emergency departments, GP clinics, and specialist practices, supporting over 2 million consultations each week in 110 languages across 116 countries.
Following the milestone, Heidi will continue to expand its headcount, office locations, and local support in the US, UK, and Canadian markets and build on clinician-led adoption in France, Spain, Germany, Ireland, South Africa, Singapore, and Hong Kong, it said.
The startup’s CEO and co-founder Dr Thomas Kelly told DealStreetAsia that besides Australia, the firm is ramping up in Asia-Pacific, with offices in Hong Kong and Singapore, where users predominantly speak English.
Recent improved transcription models are also allowing the platform to support more languages, including Mandarin, Cantonese, and other languages spoken in Southeast Asia.
“This year, we saw in our data that people would use Heidi entirely in a different language, which was the first time that it ever happened,” Kelly said.
“We also saw in our data that we organically have really good traction, especially in Singapore where we had hundreds of active users, either free or paying, that have just picked up the product for themselves,” he added.
Heidi aims to help clinicians and healthcare professionals save time on mundane tasks as they cited a research showing that they spend nearly as much time on administration as on patient care.
“Almost always what we find is that the adoption of those [note-taking] products is kind of mediocre. Practitioners will say yeah, we’re using AI, but then they don’t really like the notes. They have to edit them a lot, so maybe only 20-30% of the doctors are really active,” Kelly said.
“We believe administrative burden is contributing to clinician burnout and capacity challenges across healthcare systems. Heidi’s platform has the potential to meaningfully improve how clinicians manage their administrative workflows,” said Sri Chandrasekar, managing partner at Point72 Private Investments.
Heidi Health has recently added two senior leaders to its team: Paul Williamson as chief revenue officer and Dr. Simon Kos as chief medical officer. Williamson, who previously held key roles at Salesforce, Plaid and Visa, will focus on growth, commercial strategy and partnerships. Kos, a former global CMO at Microsoft and a practicing doctor, will guide Heidi’s clinical strategy and industry engagement.
