OpenEvidence Raises $200Mn in Series C, Valuation Climbs to $6Bn

The latest investment brings the company’s valuation to $6 billion, according to co-founder Daniel Nadler, Ph.D.

Artificial intelligence startup OpenEvidence has secured $200 million in Series C funding, just three months after closing a $210 million Series B round.

The latest investment brings the company’s valuation to $6 billion, according to co-founder Daniel Nadler, Ph.D.

Founded in 2022, OpenEvidence has developed an AI-powered medical search engine and generative AI chatbot designed exclusively for doctors. The platform simplifies and summarizes evidence-based medical information, enabling clinicians to access reliable data during consultations.

The latest round was led by Google Ventures, with participation from existing investors Sequoia, Kleiner Perkins, Thrive, and Coatue, along with new backers BOND (Mary Meeker), Blackstone, and Craft. The company has now raised nearly $500 million since its inception.

“AI is expensive. Training new medical AI models, including search, ranking, retrieval, and clinical-trial-matching models, demands enormous compute resources,” Nadler told Fierce Healthcare via email. “Our work spans both natural language processing and computer vision, since we also train proprietary models to interpret and rank figures and tables from scientific papers. Each new generation of models compounds this cost, reflecting the true price of developing medical superintelligence.”

OpenEvidence reported a 60% surge in usage since July, now supporting over 16 million clinical consultations per month. Nadler said usage among doctors and nurses in the U.S. has grown 830% in the past year.

“This year, more than 100 million Americans will be treated by a doctor using OpenEvidence. No technology in the history of healthcare has been adopted by doctors as quickly as OpenEvidence, other than perhaps Google.com itself,” Nadler stated.

The company said its technology is used across more than 10,000 hospitals and medical centers nationwide. It has also formed content partnerships with leading medical publishers, including the American Medical Association, The New England Journal of Medicine, and JAMA Network journals, to strengthen its evidence base.

Earlier this year, OpenEvidence launched DeepConsult, an AI agent designed for advanced medical research that can generate Ph.D.-level research reports within hours.

Headquartered in Miami, with an AI research center in San Francisco, OpenEvidence continues to expand its data partnerships and clinical adoption across the U.S. healthcare ecosystem.

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