Press Releases

Fabric Launches Modern Healthcare Experience With $20M Seed Round Led by Thrive Capital, GV, and Salesforce Ventures

March 30, 2023

New York, NY March. 30th, 2023 — Fabric (FKA Florence), an innovator in healthcare enablement software, has launched out of stealth mode after raising $20 million in seed funding. The health tech startup’s round was led by Thrive Capital, GV (Google Ventures), and Salesforce Ventures with participation from Vast Ventures, BoxGroup and Atento Capital.

Comprised of physicians and engineers from leading health systems and technology companies, the Fabric team has created a technology solution that provides a modern consumer experience while reducing operational overhead. The technology drives efficiency for healthcare workers and patients, enabling patients to get care faster while load-balancing in-person and virtual capacity across health systems and clinics.

“Technology is the most expedient way to address the growing challenges to our overburdened healthcare system across cost, access and labor,” said Aniq Rahman, Florence CEO and Founder. “We cannot continue to add administrative overhead to clinical teams and hope that access and quality will improve. The Fabric platform is designed to address the most significant constraint in care, clinical capacity, while building consumer interfaces that engage patients throughout their journey.”

Fabric is developing products across multiple sites of care, starting with emergency departments. Patients benefit from an experience that rivals consumer focused industries. They can track and accelerate their journey via smartphone, update clinical information, control prescription fulfillment, initiate self-discharge when appropriate, and schedule follow-up appointments. The solution boosts patient satisfaction, increases clinical capacity, and reduces patients leaving without being seen.

Fabric is working with leading health systems and most recently launched with Luminis Health in Maryland.

“As one of the busiest emergency departments in the country, our nurses and administrative staff immediately saw the benefit of Fabric,” said Saad Chaudhry, Chief Digital and Information Officer at Luminis Health. “Nurses are saving time and seeing patients faster in our ED. Patients appreciate the streamlined intake process and the transparency provided by being involved, digitally, from the very beginning. I look forward to expanding our partnership with the Florence team to see where else we are able to give back time to both our patients and staff."

Fabric was established in 2021 by CEO and Founder, Aniq Rahman, who previously was president of Moat which Oracle acquired in 2017 for $850 million. The core team includes founders, physicians, and leaders across healthcare, enterprise and consumer technology including from Google, Oracle, Palantir, Flatiron Health, Resy, Brigham and Women’s Hospital, Johns Hopkins Medicine, and Penn Medicine.

About Fabric (FKA Florence Labs, Inc.)

Fabric is a health tech company that powers healthcare to move faster, work smarter, and deliver better care through its care enablement system. The system offers three solutions: In-Person Care Suite, Virtual Care Suite, and Engagement Suite. Leveraging conversational AI and intelligent adaptive interviews, Fabric unifies virtual and in-person care across intake, triage, routing, and treatment while automating workflows for staff. Built on clinical guidelines by a team of clinicians, Fabric’s clinical intelligence engine upholds excellence in care quality while offering omnichannel access for patients. The results include enabling clinicians to work 2-10 times faster (dependent on setting), decreasing call center volume by 15%, and increasing utilization of unfilled visit blocks. Some of Fabric’s customers include Luminis Health, OSF HealthCare, MUSC Health, and Intermountain. Fabric is backed by Thrive Capital, GV (Google Ventures), and Salesforce Ventures with participation from Vast Ventures, BoxGroup and Atento Capital.

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