OpenEvidence Secures $210M in Series B Funding, Unveils Advanced AI for Medical Research

OpenEvidence, a rapidly growing artificial intelligence startup in the medical field, has successfully raised $210 million in a Series B funding round, propelling its valuation to $3.5 billion. The company, which has developed an AI-powered medical search engine and generative AI chatbot for doctors, plans to use the funds to expand its strategic content partnerships and enhance its advanced medical knowledge library.

Funding Details and Investor Interest

The Series B round was co-led by Google Ventures and Kleiner Perkins, with additional participation from Sequoia Capital, Coatue, Conviction, and Thrive. This latest investment brings OpenEvidence's total funding to over $300 million since its founding in 2022. The significant financial backing underscores the growing interest in AI-driven medical research tools among venture capital firms.

Platform Growth and Adoption

Founded by Daniel Nadler, OpenEvidence has quickly established itself as a leader in the medical AI space. The company claims that over 40% of physicians in the United States now use its platform, with active usage across more than 10,000 hospitals and medical centers nationwide. OpenEvidence reports a staggering 2,000%-plus year-over-year growth rate, now supporting over 8,500,000 clinical consultations by physicians per month.

Introduction of DeepConsult AI Agent

Alongside the funding announcement, OpenEvidence unveiled DeepConsult, an advanced AI agent specifically designed for physicians engaged in medical research. Described as a "digital twin of a Ph.D.-level researcher," DeepConsult aims to empower physicians with the ability to conduct comprehensive literature reviews and synthesize information from hundreds of peer-reviewed studies in a matter of hours. This tool is being offered free of charge to all verified U.S. clinicians, regardless of their institution or workplace.