Andreessen Horowitz in Talks to Value Abridge AI at $5.3 Billion (1)

Abridge AI Inc., a startup that uses artificial intelligence to transcribe medical conversations, is raising $300 million in a new funding round led by Andreessen Horowitz, according to people familiar with the matter.

The round values the Pittsburgh-based company at $5.3 billion, including the investment, the people said, asking not to be identified because the information is private.

The investment will nearly double Abridge’s valuation from only a few months ago, and underscores the tech industry’s interest in AI software that can make industries like health care more efficient. In February, the company announced it raised $250 million ...