Heidi, a Melbourne-founded maker of AI software for clinicians, closed a $100m Series C led by Blackbird at a $900m valuation, the company announced on 22 September 2026.
Existing investors Phoenix Court, Point72 Private Investments and Headline also took part. Alongside the equity round, Heidi secured a $240m growth investment led by General Catalyst's Customer Value Fund (CVF), bringing its new funding to $340m.
The Next Web reported that the valuation is almost double the $465m Heidi carried in October 2025, when Point72 led a $65m Series B.
“From the day I started Heidi, 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.”Dr Thomas Kelly, Co-founder and CEO, Heidi
What Heidi does
Heidi began as an AI scribe that writes clinical notes from patient consultations and now calls its product an AI Care Partner. It has added Evidence, which answers clinical guideline questions at the point of care and has handled more than 10 million queries since its launch in March 2026; Remote, a wearable device for capturing audio; and Dictate, a voice-to-text feature.
The company says its software has supported more than 175 million patient visits, up from 73 million at the Series B, and about 2.8 million patient interactions a week in 190 countries and 110 languages. Annual recurring revenue rose from $1m to $50m in two years, reaching that level in April 2026.
Heidi said transcription and note generation, which account for most of its computing, now run almost entirely on technology built in-house rather than on frontier models.
Health system customers
Heidi put its enterprise activation rate at about 62%. In the US it is used by Beth Israel Lahey Health in Massachusetts. In the UK it was chosen as sole supplier for NHS England Midlands, which the company called the largest clinical AI procurement in NHS history. Australian deployments include the Royal Children's Hospital Melbourne, Children's Health Queensland and Metro South Health, and it runs in every emergency department in New Zealand.
Heidi employs close to 600 people, according to The Next Web. Citing Bloomberg, the site reported that chief executive Dr Thomas Kelly plans to add up to 150 staff over the next year and to expand into Asia and the Middle East.
What the money is for
Heidi said the funding will deepen adoption in health systems and build agentic features that handle work around the patient visit under clinician supervision. Part of the round pays for clinical evidence, quality management systems and regulatory submissions for those features. The company said the coming capabilities will not be available in the UK and EU.
The two parts of the funding are structured differently. The Next Web, citing Bloomberg, reported that the CVF money takes no shares or warrants; it funds sales and marketing and is repaid along with a capped share of the revenue that spending produces. Only the $100m Series C is equity.
Kelly said the company's aim had always gone beyond writing doctors' notes, and that it was now moving from documenting care to helping clinicians act on it.
The funding so far
Heidi said it has raised $436.6m in total from investors including Blackbird, General Catalyst, Phoenix Court, Point72 Private Investments, Headline, Possible Ventures, Glitch Capital and Archangel. Blackbird has backed the company since its pre-seed round in 2021.
Kelly founded Heidi in Melbourne with Waleed Mussa and Yu Liu, The Next Web reported. The site noted that rival Tandem Health raised $100m a week earlier to turn its own AI scribe into broader clinic software.
Company website: heidihealth.com