Heidi, the Australian AI startup that helps clinicians automate note-taking and other admin tasks, unveiled a $340 million financing bundle on Tuesday. That includes $100 million of new equity in a Series C headed by existing backer Blackbird Ventures, valuing the company at $900 million, nearly twice its prior round.
Another $240 million is coming from General Catalyst's Customer Value Fund, described as a debt-like financing instrument that will bankroll Heidi's sales and marketing as it scales. General Catalyst is not taking equity or warrants. Instead, it will receive a share of revenue attributable to that spending until a predefined cap is reached, in addition to getting back its principal.
The company reports the platform has supported more than 175 million patient visits across 110 languages. Annual recurring revenue reached $50 million in April, up from roughly $1 million two years prior.
Among its public and private customers are The Royal Children's Hospital Melbourne and the Children's Health Queensland Hospital and Health Service. In the UK, Heidi serves as the exclusive supplier for NHS England Midlands, and in the US the platform is used by Beth Israel Lahey Health in Massachusetts.
"The ambition was always bigger than writing doctor's notes - I imagined that AI would sit alongside clinicians and complete real work under their supervision," co-founder and Chief Executive Officer Thomas Kelly said. He added, "Over the next six to 12 months, Heidi will be able to handle most of the tasks that a doctor wants us to."
Kelly said the company is rolling out more AI capabilities, including agentic tools, and integrating with larger healthcare organizations. Heidi expects to strengthen local teams in the US, UK and Australia, and expand in Asia and the Middle East. Headcount is close to 600 today, with plans for up to 150 additional hires over the next year. "Healthcare is really hard and there's a lot of setup and configuration," Kelly said, adding, "All our existing data show that our customers stick around."
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Investors are leaning into tools that boost efficiency in care delivery. Forus raised $150 million this month, and Latent secured $80 million earlier this year. Heidi and similar startups are wagering that providers will pick focused, healthcare-specific AI over generic chatbots.
There are headwinds too. "There are still many, many hospitals and organizations that are only just making their first decisions," Kelly said. "Organizations are realizing AI can be really exciting, but there are some risks and problems that can arise, and they need to work with companies that are focused on those areas."
Counting this raise as well as a $65 million round last year, Heidi's cumulative funding now exceeds $430 million. Bottom line for your wallet: if AI can trim time and costs across clinics, the spending shifts won't just show up on hospital budgets - they could ripple into how quickly you get care, what services cost, and which startups become the new infrastructure behind your next doctor visit.
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