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Fabric Recognized by CB Insights as a Leading Digital Health Company

On December 3, 2024, Fabric was celebrated by CB Insights as a member of its esteemed Digital Health 50 — a list that honors the most promising private digital health firms globally. The recognition comes after thorough evaluations of over 10,000 companies, highlighting Fabric's dedication to advancing clinical intelligence and enhancing consumer healthcare outcomes.

Changing the Landscape of Healthcare

CB Insights' analyst, Amrit Panjabi, stated, "This year's cohort of the Digital Health 50 is driving critical transformations across the healthcare sector." Among those transformations is Fabric's innovative approach to integrating Artificial Intelligence into health systems, improving diagnostic accuracy, and facilitating tailored care for various conditions. The growth of these companies is crucial in reshaping healthcare services and improving patient experiences.

In a statement, Aniq Rahman, the founder and CEO of Fabric, expressed gratitude for the recognition, emphasizing the company's commitment to innovation that enhances accessibility and streamlines both clinical and administrative workflows. This dual focus allows Fabric to better serve healthcare systems, payers, and employers amidst the industry's evolving challenges.

A Robust Growth Strategy

Just under four years since its inception, Fabric has witnessed extraordinary growth, driven by strategic product launches and acquisitions. Notable milestones include:

• - Achieving triple-digit annual sales growth.
• - Acquiring companies like Gyant, Zipnosis, and TeamHealth's virtual service line, enhancing its service capabilities.
• - Raising a total of $80 million, which included a $60 million Series A funding round led by General Catalyst in early 2024.

This influx of capital has underpinned the development of Loom, Fabric's health intelligence engine. Loom acts as a powerful component of the company's care enablement system, handling more than 19 million patient interactions and automating numerous tasks in clinical settings. The use of advanced technologies such as Large Language Models and Natural Language Processing has allowed Fabric to streamline operations remarkably.

Significant Impact in Healthcare Delivery

Fabric’s innovations are making tangible improvements in the healthcare ecosystem. The company boasts impressive statistics that include:

• - Reducing clinical work time to just 89 seconds in virtual settings.
• - Decreasing emergency room discharge times by an average of 28 minutes.
• - Cutting down call center wait times by almost 30%, thereby improving overall service efficiency.

These metrics illustrate Fabric's vision of a combined virtual and in-person healthcare experience. The integration allows seamless navigation for consumers through various health services — from virtual urgent care to behavioral health.

A Bright Future Ahead

Backed by notable investors such as General Catalyst, Thrive Capital, and GV (formerly Google Ventures), Fabric is well-positioned for continued growth and innovation. Serving more than 30,000 employers and large organizations, including prominent health systems like Luminis Health and Intermountain Health, its influence in the healthcare sector is poised to expand even further.

In summary, Fabric’s recognition by CB Insights is not merely a badge of honor; it signifies a commitment to empowering healthcare systems, making significant strides in improving patient access, and utilizing cutting-edge technology to revolutionize how care is delivered. As the landscape of healthcare continues to evolve, Fabric is ready to lead the charge towards a more efficient, consumer-centric model of health service delivery.