Care Enablement Company Fabric Receives $60M in Funding

Feb. 21, 2024
Company says that it streamlines virtual and in-person visits by employing intelligent adaptive interviews that automate symptom gathering and provider documentation

A startup called Fabric, which has developed a care enablement system designed to automate clinical and administrative work, has received $60 million in Series A funding.

Fabric was founded by Aniq Rahman, former president of Moat, a digital measurement cloud company that was sold to Oracle for $850 million.

In light of the ongoing healthcare workforce shortage, Fabric said its mission is to empower physicians and health organizations to provide more efficient care and better patient access—maximizing clinical capacity and improving health outcomes. Its goal is to improve clinical capacity and increase access to care by swiftly identifying patient symptoms through AI and directing them to appropriate care settings, such as primary and urgent care visits or virtual care. The company says that it streamlines virtual and in-person visits by employing “intelligent adaptive interviews that automate symptom gathering and provider documentation, increasing provider efficiency 2-10x depending on the setting.”

Fabric said it already has 70 health customers on its platform, including OSF HealthCare, MUSC Health, Intermountain, and Luminis Health, a Maryland-based nonprofit health system providing care for 1.8 million people. 

"Fabric addresses capacity constraints by streamlining workflows before, during, and after an encounter— across virtual and in-person care," said Saad Chaudhry, Luminis Health's chief digital and information officer, in a statement. "In our emergency department, nurses save time due to the efficiency of Fabric's In-person Care Suite. Additionally, patients who use these tools experience a nearly 33 percent reduction in left-without-being-seen rates. Fabric's expanded suite helps us drive automation and efficiency from onset through post-visit care—removing barriers to access.”

The funding comes on the heels of Fabric’s acquisitions of GYANT, a conversational AI care assistant and patient engagement suite, and Zipnosis, an asynchronous care company. 

The funding round is being led by General Catalyst, with continued participation from Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, Box Group, and Atento Capital. 

Fabric said it will dedicate a large portion of the funding to add advanced AI capabilities to enhance customer efficiency and pursue strategic merger and acquisition opportunities.

 

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