Medical AI Startup OpenEvidence Hits $12B Valuation After $250M Funding Round
Medical AI Platform OpenEvidence Secures Major Funding Amid Healthcare Tech Boom
In a landmark deal for healthcare technology, OpenEvidence has raised $250 million in its latest funding round, catapulting the medical AI startup to a staggering $12 billion valuation. The investment was spearheaded by heavyweight venture firms Thrive Capital and DST Global.
Transforming How Doctors Work
The California-based company has developed what many physicians call "Google Scholar on steroids" - an AI-powered platform that combs through medical journals and clinical guidelines to help doctors diagnose conditions and determine treatments. Founder Daniel Nadler explains: "Physicians would need to spend their entire workday just reading journals to stay current. Our platform delivers key findings instantly."
Key advantages of OpenEvidence:
- Reduces research time from hours to seconds
- Flags potentially overlooked treatments
- Provides citations from peer-reviewed sources
The platform's adoption has been remarkable, with over 40% of U.S. physicians reportedly using it regularly. Last year alone, OpenEvidence assisted doctors treating more than 100 million patients.
Expanding Beyond Diagnostics
What began as a clinical decision-support tool has grown into a multifaceted platform:
- Medical education: Generating exam questions for med schools
- Learning assistance: Helping students master complex concepts with cited sources
- Clinical notes: Developing AI-powered documentation tools (coming soon)
The funding comes at a pivotal moment as tech giants like OpenAI enter healthcare with products like ChatGPT Health. However, OpenEvidence maintains its edge through specialized medical algorithms and partnerships with leading healthcare organizations.
"We're not just another chatbot," Nadler emphasizes. "Our models are trained specifically on clinical data and physician workflows."
The fresh capital will primarily fuel research initiatives and computing infrastructure expansion. Company executives hint at upcoming collaborations with major medical associations to further refine their technology.
Key Points:
- OpenEvidence raises $250M at $12B valuation (10x growth since 2025)
- Platform used by 40%+ of U.S. doctors, assisted 100M+ patients last year
- Expands from diagnostics into medical education and documentation
- Funding led by Thrive Capital and DST Global
- Plans include deeper medical partnerships and feature development
