Fabric Named Top 50 Digital Health Company by CB Insights

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Dec 03, 2024, 09:30 ET

Fabric recognized for clinical intelligence, workflow automation, and consumer outcomes.

NEW YORK, Dec. 3, 2024 /PRNewswire/ -- CB Insights today named Fabric to its 2024 Digital Health 50 — a list of the world's 50 most promising private digital health companies, selected from over 10,000 digital health companies based on a combination of data signals and proprietary scoring.

"The 2024 Digital Health 50 cohort highlights high-momentum companies driving meaningful change across healthcare," said Amrit Panjabi, Intelligence Analyst at CB Insights. "This year's winners are at the forefront of bringing an AI-driven infrastructure to healthcare, transforming diagnostics, and bringing condition-specific care platforms to patients and providers. These companies are accelerating the transformation of healthcare delivery, streamlining workflows, and advancing patient outcomes globally."

"Fabric is honored to be part of the Digital Health 50," said Aniq Rahman, Founder and CEO of Fabric. "Through product innovation and strategic acquisitions, our team has developed a robust offering that streamlines clinical and administrative workflows, gives consumers easier access to care, and delivers meaningful improvements across care settings. By addressing inefficiencies and enhancing access, we empower health systems, payors, and employers to meet today's challenges and build healthier communities."

The company's compound product strategy is a key driver of success through launching new products and strategic acquisitions. Since its founding less than four years ago, the company has experienced remarkable growth:

Achieving triple-digit annual sales growth
Acquisitions that include Gyant, Zipnosis, TeamHealth's virtual service line, and MeMD, acquired from Walmart
Raising $80 million in total, including a $60M Series A funding led by General Catalyst in February 2024

With the additional funding, Fabric is transforming healthcare with Loom, the company's health intelligence engine. At the core of its care enablement system, Loom supports over 19 million patient interactions, powering consumer self-service tools and automating clinical and administrative workflows. Through an innovative combination of Large Language Models, Natural Language Processing, and a clinical expert system, Fabric delivers tangible results, including reducing clinical work time to 89 seconds in virtual settings, cutting ER room-to-discharge times by 28 minutes, and lowering call center wait times by up to 30%.

About CB Insights
CB Insights is an AI super analyst for market intelligence. It delivers instant insights that help you bet on the right markets, track competitors, and source the right companies. This AI super analyst is powerful because it is built on the validated database of companies and markets that CB Insights is famous for. To learn more, please visit www.cbinsights.com.

Contact:
[email protected]

About Fabric
Fabric is a health tech company that powers healthcare to move faster, work smarter, and deliver better care to patients, employees, and health plan members. Leveraging conversational AI, asynchronous telehealth, and intelligent adaptive interviews, Fabric unifies virtual and in-person care across intake, triage, routing, and treatment while automating clinical workflows and consumer journeys. Enabled by Fabric's technology, the company offers flexible virtual staffing models through its 50-state clinical network that provides virtual urgent care, primary care, and behavioral health. The organization serves 30,000 employers and enterprise organizations, including Luminis Health, OSF HealthCare, MUSC Health, Highmark, and Intermountain Health. Fabric is backed by General Catalyst, Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, BoxGroup, and Atento Capital.

https://www.fabrichealth.com/

CONTACT:
Merrita Villa
VSC for Fabric
[email protected]

SOURCE Fabric Labs Inc.