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Fabric Raises $60 Million to Grow Conversational AI-Powered Healthcare Platform

Fabric Raises $60M to Grow AI-Powered Healthcare Platform

Fabric, a health technology company, raised $60 million in a Series A round to expand its care enablement platform for healthcare providers.

The platform increases provider productivity by streamlining in-person and virtual visits with tools like conversational artificial intelligence, according to a Wednesday (Feb. 21) blog post. It provides patients with services like symptom checking, appointment scheduling and reminders.

“Healthcare faces unprecedented challenges, including rising demand, underlying costs and staffing constraints, which pose significant barriers to access,” Fabric founder and CEO Aniq Rahman said in the post. “With the investment, we will continue addressing these challenges and further our mission of providing boundless care through seamless and intuitive experiences.”

Thousands of providers and millions of patients across the country are using one or more of the product suites powered by Fabric’s care enablement system, according to the post.

One of the company’s offerings is an Engagement Suite that uses conversational AI and custom-defined workflows to interview patients and route, navigate and schedule them for the most appropriate care, the post said.

Another offering, the In-Person Care Suite, prepares patients for their upcoming visit, guides them through the visit and manages their expectations while keeping them informed, per the post.

A third product from Fabric, the Virtual Care Suite, allows patients to search for symptoms, find suggested diagnoses and, if needed, set up a video call or schedule in-person care, the post said.

Fabric’s Series A round was led by General Catalyst. Holly Maloney, managing director at General Catalyst, said in the release that by addressing clinical capacity, Fabric is working to solve one of the biggest challenges in healthcare.

PYMNTS Intelligence found that healthcare companies recognize generative AI’s potential to transform health and medicine and are teaming up with tech giants and startups to introduce AI to all aspects of health.

Providers, payers, pharmaceutical companies and other healthcare-focused firms are turning to generative AI innovations to tackle everything from research to patient care to billing, according to the PYMNTS Intelligence report “Generative AI Can Elevate Health and Revolutionize Healthcare.”

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