OpenEvidence Secures $200M in Series C Funding, Valuation Soars to $6B

OpenEvidence, the rapidly growing artificial intelligence startup in the medical sector, has secured $200 million in a Series C funding round, propelling its valuation to $6 billion. This latest investment comes just three months after the company's $210 million Series B round, bringing its total funding to nearly $500 million since its founding in 2022.

Explosive Growth and Widespread Adoption

OpenEvidence has experienced remarkable growth, with its AI-powered medical search engine and generative AI chatbot now supporting over 16 million clinical consultations per month. This represents a 60% increase from July when the company announced its Series B funding. The platform's usage among doctors and nurses in the United States has surged by 830% in the past year.

Daniel Nadler, Ph.D., one of OpenEvidence's founders, stated, "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."

Strategic Partnerships and Technological Advancements

The company has formed strategic content partnerships with leading medical institutions, including the American Medical Association, The New England Journal of Medicine, and The Journal of the American Medical Association. These partnerships have allowed OpenEvidence to differentiate itself from other medical AI chatbots by leveraging gold-standard medical knowledge.

In a recent development, OpenEvidence released DeepConsult, an AI agent described as a "digital twin of a Ph.D.-level researcher." This tool aims to assist physicians in rapidly acquiring new knowledge and generating comprehensive research reports within hours.

Funding Details and Future Plans

Google Ventures led the Series C round, with participation from existing investors Sequoia, Kleiner Perkins, Thrive, and Coatue. New investors, including BOND (Mary Meeker), Blackstone, and Craft, also joined the round.

The fresh capital will be used to further develop OpenEvidence's AI technology. Nadler explained, "AI is expensive. Training new medical AI models—including search, ranking, retrieval, and clinical-trial-matching models—demands enormous compute resources. 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."