Fabric – a leading healthcare enablement platform company – announced it has raised $60 million in Series A funding led by General Catalyst with continued participation by Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, Box Group, and Atento Capital. The support from investors validates a care enablement system that improves patient access while driving clinical and operational efficiency from symptom onset through virtual and in-person treatment and post-visit engagement.
The product vision aligns with General Catalyst’s vision to create a more proactive, affordable, and equitable care system. And clinical capacity is the most significant constraint in healthcare and remains our primary focus across our Engagement, In-Person Care, and Virtual Care Suites. By addressing capacity, we are improving access, which will drive down operational and patient costs.
Healthcare leaders are facing unprecedented challenges with Provider burnout reaching crisis levels, a predicted shortfall of over 100,000 physicians in the next decade, and the current healthcare worker shortage projected to exceed 3.2 million by 2026
Nationwide, doctors are experiencing significant challenges meeting patient demand – leading to some patients using unorthodox methods for securing an appointment.
This same challenge plays out in various points of care. And it can look like a 50-minute wait for a telemedicine visit, a four-hour wait in the ER, or an urgent care center that defers people to the next day. In all of these cases, inefficiency and capacity are the biggest blockers to access.
Fabric 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. And online chat features leverage conversational AI to empower patients with self-service features, including symptom checking and appointment scheduling. These results include a 30% decrease in contact center volume, a 35%+ decrease in call center wait times, and increased utilization of unfilled visit blocks. The post-encounter reminders additionally decrease hospital readmission rates by over 10%.
Fabric’s end-to-end care enablement system is used by thousands of providers and millions of patients nationwide as they engage with one or more of the company’s product suites.
KEY QUOTES:
“Our team has what we think is a unique view of the challenges in healthcare across our health system partnerships, and in order to solve the largest problems, we believe you have to address one of the biggest constraints: clinical capacity. Aniq and Aiden are repeat entrepreneurs that we admire, and believe they have the right end-to-end care system, network and relationships in place to uniquely address these challenges, and we are excited to join them as they grow.”
– Holly Maloney, managing director at General Catalyst
“It’s like watching a train crash. I know what’s coming and it’s going to be a worse crash. I have people calling me, leaving wine on my doorstep with a note asking to be taken on, referrals from many other doctors who just can’t take on any more patients. It’s incredible, I’ve never seen such a thing.”
– Dr. Sal Abbruzzese
“Fabric addresses capacity constraints by streamlining workflows before, during, and after an encounter—across virtual and in-person care. 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% 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.”
– Saad Chaudhry, Luminis Health’s chief digital and information officer
“We are thrilled to announce our partnership with General Catalyst for our next phase of growth. Healthcare faces unprecedented challenges, including rising demand, underlying costs, and staffing constraints, which pose significant barriers to access. With the investment, we will continue addressing these challenges and further our mission of providing boundless care through seamless and intuitive experiences.”
– Aniq Rahman, founder and chief executive officer at Fabric
