OpenEvidence doubles valuation to $12B with $250M Series D
OpenEvidence, an AI platform built for clinicians, raised $250 million in a Series D that lifts its valuation to $12 billion. It's the company's fourth raise in under a year, bringing total funding since its 2021 launch to nearly $700 million. The round was co-led by Thrive Capital and DST, with participation from GV, Sequoia Capital, Kleiner Perkins, Coatue, and others.
The product positions itself as a specialized medical search engine-a "brain extender" for doctors-that returns citation-linked answers from medical literature. The platform is free to physicians and ad-supported. OpenEvidence says it crossed $100 million in annual revenue this month.
Adoption has scaled quickly, according to the company. In December, verified U.S. physicians ran about 18 million clinical consultations on the platform, up from roughly 3 million per month a year ago. OpenEvidence reports daily use by more than 40% of U.S. physicians across 10,000+ hospitals and medical centers, and that doctors using it treated over 100 million Americans last year.
"If a doctor tried to stay current by reading only the new evidence in the top 10 medical journals and only the most recent changes to their specialty guidelines, it would take nine hours of their day, each day," said CEO Daniel Nadler, who co-founded the company with Zachary Ziegler. "Without a technology like OpenEvidence, doctors may miss critical new findings or guidelines simply because they lack the time to find them."
Big AI players are entering health-think ChatGPT for Health and Claude for Health. Even with that push, this raise signals that focused, clinician-first tools still have a clear lane.
Why this matters for clinicians
- Faster evidence checks: Quick answers with citations can shrink the gap between a clinical question and the supporting literature. When needed, go straight to the source on PubMed.
- No-cost access: Free and ad-supported removes budget friction for individual physicians and smaller groups, while health systems can explore at department scale.
- Routine-friendly: High daily usage suggests it fits into short windows between patient encounters-useful for dosing nuances, contraindication checks, and new trial summaries.
- Governance: For high-stakes calls, verify with primary literature and follow institutional policies. Set norms for documentation and escalation.
Practical ways to put it to work this week
- Create a shared list of recurring queries (e.g., renal dosing adjustments, drug-drug interactions, updated guideline thresholds) and standardize prompts to speed consistent results.
- Link key citations in the note where your EHR permits-useful for consults, tumor boards, and peer review.
- Block a weekly 15-minute slot to scan changes in your specialty's guidelines and top journals.
- For service chiefs: track adoption, define what gets documented, and measure impact (time-to-answer, escalation rates, callbacks avoided).
Funding context
Investor interest in AI-focused health tools rose in 2025. Companies in this category attracted an estimated $14 billion across stages-about 63% higher than the $8.6 billion raised in 2024. Dollars are flowing to products aimed at high-pain, high-cost parts of care delivery.
The bottom line
The goal isn't to replace clinical judgment-it's to shorten the path from question to evidence-backed action. With fresh capital and broad physician use, expect faster product cycles and deeper integrations across care settings.
If your team needs structured upskilling on practical AI skills for clinical and operational workflows, explore curated options by role at Complete AI Training.
Your membership also unlocks:
