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

OpenEvidence, a rapidly growing artificial intelligence startup in the medical field, has announced a substantial $210 million 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 physicians, plans to use the funds to expand its strategic content partnerships and enhance its advanced medical knowledge library.

Funding and Growth

The series B round was co-led by Google Ventures and Kleiner Perkins, with 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.

OpenEvidence has experienced remarkable growth, with its platform now actively used across more than 10,000 hospitals and medical centers nationwide. The company reports a staggering 2,000%-plus year-over-year growth rate, now supporting over 8,500,000 clinical consultations by physicians per month.

Strategic Partnerships and Content Differentiation

OpenEvidence has strategically positioned itself in the market through partnerships with prestigious medical journals and organizations. The company has formed content partnerships with the American Medical Association, The New England Journal of Medicine, The Journal of the American Medical Association, and all eleven JAMA specialty journals.

Daniel Nadler, founder of OpenEvidence, emphasized the importance of these partnerships, stating, "If you're a doctor, and you want to ask a question on OpenEvidence, that same question on ChatGPT, for example, is going to pull a generic answer, maybe from the abstract that it scraped from the public Internet. It's not going to pull the exact answer on who is the control group and what will the breakdown of the efficacy of the drug by different cohorts in the study and how to differentially affect pregnant women versus non-pregnant women."

Introduction of DeepConsult AI Agent

Alongside the funding announcement, OpenEvidence unveiled DeepConsult, an advanced AI agent designed specifically for physicians conducting medical research. Described as a "digital twin of a Ph.D.-level researcher," DeepConsult aims to empower physicians with a personal, private team of medically-specialized AI agents capable of conducting advanced medical research while the physician attends to other tasks.

DeepConsult utilizes advanced reasoning models to analyze and cross-reference hundreds of peer-reviewed medical studies in parallel, providing comprehensive, evidence-based syntheses within hours. The company is offering DeepConsult free to all verified U.S. clinicians, regardless of their institution or workplace.