In a bold move that signals continued tech innovation in San Francisco, AI healthcare startup Abridge has secured an entire 80,000-square-foot office building in the city’s Showplace Square neighborhood. The company, which develops AI technology to convert doctor-patient conversations into clinical notes, is making a significant real estate investment amid the city’s evolving tech landscape.

The century-old building at 208 Utah St., previously occupied by tech companies like Strava and Warner Bros., was recently purchased by San Francisco-based Redco Development for $15 million. This strategic acquisition comes as Abridge continues its impressive growth trajectory, recently achieving a valuation of $5.3 billion following a $300 million Series E funding round in June.

Currently operating from a 14,000-square-foot space in the Mission district, Abridge’s expansion reflects the company’s ambitious growth plans. The startup has rapidly established itself in the healthcare technology sector, with its AI-powered platform now utilized by over 150 large U.S. health systems.

The company’s recent financial success includes reaching $117 million in annual recurring revenue, demonstrating the increasing demand for AI-driven healthcare solutions. Abridge plans to leverage its new funding to expand its team, specifically targeting the recruitment of scientists, machine-learning experts, and software developers.

This significant office lease represents more than just a real estate transaction – it’s a testament to the ongoing resilience and innovation of San Francisco’s tech ecosystem. As healthcare continues to be transformed by artificial intelligence, Abridge stands at the forefront of this technological revolution, promising to streamline medical documentation and potentially improve patient care through cutting-edge AI technology.