OpenEvidence, an AI-powered medical information platform, has announced a significant $250 million Series D funding round, propelling its valuation to an impressive $12 billion. This latest investment, co-led by Thrive Capital and DST, comes despite increasing competition from major AI players like OpenAI and Anthropic entering the healthcare sector.
The new valuation marks a substantial increase, doubling the company's worth since its last raise in October, when it secured $200 million at a $6 billion valuation, led by GV. OpenEvidence now reports a total of $700 million in funding from a diverse group of prominent investors, including Sequoia, Nvidia, Kleiner Perkins, Blackstone, Bond, Craft Ventures, and the Mayo Clinic.
Positioned as an AI-driven medical information platform, OpenEvidence serves as a specialized resource for doctors, akin to how WebMD functioned for an earlier generation of internet users. This focus places it in direct competition with offerings such as Anthropic’s Claude for Healthcare, which targets patients, payers, and providers. In contrast, ChatGPT’s new health product is primarily aimed at general consumers.
The company has demonstrated rapid growth, reporting that its free, ad-supported platform facilitated 18 million clinical consultations from verified U.S. healthcare professionals in December alone. This represents a substantial increase from approximately 3 million searches per month just a year prior. OpenEvidence also confirmed it has surpassed $100 million in revenue.
