Here's the pitch deck that Point72-backed Heidi Health used to raise $65 million to battle in the AI scribe race

Heidi Health, an innovative player in the AI healthcare sector, has successfully raised $65 million in a Series B funding round, led by Point72 Private Investments, the venture fund of hedge fund manager Steve Cohen. The latest investment elevates the company's valuation to approximately $465 million post-money and brings its total funding to nearly $97 million. The funding arrives just seven months after Heidi Health secured $16.6 million in its Series A round, which was co-led by Headline and included notable partners such as Anthology, Anthropic, and Menlo Ventures. The startup, founded by Dr. Thomas Kelly, a former vascular surgery resident, initially began under the name Oscer in 2019, focusing on educational tools for medical students. However, recognizing a larger opportunity, the company pivoted to developing AI-driven solutions that alleviate the administrative workload of healthcare providers. Heidi Health distinguishes itself in an increasingly competitive market, where it faces rivals like Abridge and Ambience Healthcare, as well as industry giants such as Epic, which recently announced its entry into the AI clinical documentation space. Kelly emphasizes that one of Heidi's core strategies is to prioritize physician adoption over strict integration with electronic health records. The company’s approach allows half of its sales to come directly from physicians, who can sign up for the AI scribe product—offered for free—with an optional premium tier at $70 per month that provides enhanced features like customizable clinical note templates. This 'open plan' model contrasts with many competitors who focus on top-down sales strategies. With the recent funding, Heidi Health plans to expand its international footprint, having already attracted users from 116 countries. The company aims to accelerate its hiring efforts, particularly in the U.S., U.K., and Canada, while also deepening its presence in markets where it has established a user base, such as France, South Africa, Singapore, and Hong Kong. Looking ahead, Heidi Health intends to develop AI-driven medical search capabilities, which may position it against formidable competitors like OpenEvidence and Doximity. Kelly has made it clear that the company will maintain strict ethical boundaries, stating, "We will never monetize with pharma," as he believes this would compromise trust with physicians. This commitment to integrity is a defining aspect of Heidi Health’s mission as it navigates the complexities of the healthcare technology landscape.