OpenEvidence, an AI startup whose tools are used by US physicians, has raised $250 million in fresh funding at a $12 billion valuation, the Nvidia- and Google Ventures-backed company said on Wednesday, doubling its value in just three months.
The surge in generative AI investment has so far centred on consumer and productivity software, but OpenEvidence highlights a shift toward specialised medical applications as hospitals and physicians increasingly rely on AI to support clinical decisions that can affect patient outcomes.
The Series D round was co-led by Thrive Capital and DST Global, bringing OpenEvidence‘s total funding to nearly $700 million, the company said.
OpenEvidence was valued at $6 billion in October, when it raised roughly $200 million, according to PitchBook data. The valuation jump underscores intensifying investor enthusiasm for healthcare-focused AI companies that can demonstrate real-world adoption.
Founded by Daniel Nadler, OpenEvidence develops a specialised AI-powered medical search engine that helps clinicians quickly find and synthesise information from peer-reviewed journals and clinical guidelines.
The company said its platform is used on a daily basis by more than 40% of physicians in the United States, across over 10,000 hospitals and medical centres.
By limiting its training data to trusted medical sources and securing formal partnerships with organisations such as the New England Journal of Medicine and the American Medical Association, the company aims to address concerns around accuracy and trust that have been hurdles to AI adoption in healthcare.
OpenEvidence said it supported about 18 million clinical consultations from verified U.S. physicians in December, up from around 3 million consultations per month a year earlier.
The startup said it would use the new capital to invest in research and development and to scale its AI architecture, which routes physician questions to specialised medical systems.
Reuters
