OpenEvidence Hits $15B After Back-to-Back Mega Rounds

OpenEvidence raised $250 million at a $15 billion valuation, a $3 billion jump within one year as AI giants move into healthcare.

OpenEvidence, the Miami-based AI search engine for doctors, has raised $250 million from hospital systems and Andreessen Horowitz, according to people familiar with the matter who spoke to Business Insider. The round values the company at $15 billion, up from the $12 billion valuation set in a January financing. It is the latest in a string of back-to-back raises: third-party funding records cited by news.lavx.hu show the valuation climbing $3 billion within a single year, placing OpenEvidence among the most valuable private health technology companies. Business Insider reports the startup has raised over $1 billion in the past year from investors including Thrive Capital, DST, GV, Kleiner Perkins and Sequoia Capital, with Nvidia also on the cap table.

The valuation trajectory is the shock. Business Insider notes OpenEvidence was valued at $6 billion in October when it raised roughly $200 million, per PitchBook data — meaning the price has more than doubled in under a year. Livemint reports the platform already handled about 18 million clinical consultations from verified U.S. doctors in December, up from roughly 3 million a month a year earlier, and that the company calls itself the fastest-growing application for physicians in history.

The adoption numbers are what investors are paying for. Livemint reports that the platform is used daily by more than 40% of U.S. physicians across over 10,000 hospitals and medical centers, and that by June more than half of U.S. physicians were regular users. CNBC figures cited by Business Insider put reliance on the product at more than two-thirds of U.S. doctors for diagnostic and treatment advice. Founded in 2022 by Daniel Nadler, OpenEvidence lets clinicians ask natural-language questions and receive answers with citations from peer-reviewed journals, including formal partnerships with the New England Journal of Medicine and the American Medical Association, per Livemint. The service is free to clinicians in the U.S. and Canada.

Business Insider reports that OpenEvidence could be open to selling itself, including access to computing that could grow scarcer if anti-AI sentiment curbs data center expansion, though it may prefer to remain independent and no acquirer interest could be verified. The logic is clear: an acquisition would hand a buyer an installed base of doctors, experience handling sensitive medical data, and a foothold in a market OpenAI and Anthropic increasingly want to own directly. The M&A wave is already hot — Business Insider points to Nvidia agreeing to buy Hugging Face for nearly $13 billion and Stripe buying OpenRouter for around $8 billion as the race for AI assets intensifies.

Beyond the raise, the company is expanding its network. Livemint reports that Anthropic announced a partnership this week to bring a specialized version of the clinical tool free of charge to physicians in dozens of low- and middle-income countries, rolling out in about 100 countries including Uganda, Angola, Sudan, Haiti and Mongolia. "Access to medical knowledge shouldn't depend on geography," founder Daniel Nadler said. The partnerships give it licensed medical material that general-purpose AI products may not fully access, as news.lavx.hu observes.

The money is in, but the test remains. news.lavx.hu notes that citations do not guarantee safe answers, that a 2026 Nature Medicine study found benchmark performance depends heavily on task and scoring method, and that OpenEvidence has not released enough financial detail to judge the valuation against recurring revenue or retention. The company must now convert physician use into durable business results: hospitals paying for access and the system supporting high-stakes work without new errors.