The Series D round reflects growing investor appetite for artificial intelligence tools designed specifically for healthcare and clinical decision-making.
Medical AI startup OpenEvidence has raised $250 million in fresh funding at a valuation of $12 billion, doubling its market value in just three months, the company said on Wednesday.
The Series D round reflects growing investor appetite for artificial intelligence tools designed specifically for healthcare and clinical decision-making.
The funding round was co-led by Thrive Capital and DST Global, bringing OpenEvidence’s total capital raised to nearly $700 million. The company was valued at approximately $6 billion in October, when it raised close to $200 million, according to PitchBook data. Nvidia and Google Ventures are among OpenEvidence’s existing backers.
The latest funding comes as investment in generative AI expands beyond consumer-facing and productivity tools into more specialized sectors, including healthcare. OpenEvidence’s platform focuses on supporting physicians with rapid access to medical knowledge, a use case that investors increasingly view as commercially viable and clinically relevant.
Founded by Daniel Nadler, OpenEvidence has developed an AI-powered medical search engine designed to help clinicians find and synthesize information from peer-reviewed journals and established clinical guidelines. The company said its tools are used daily by more than 40% of physicians in the United States, spanning over 10,000 hospitals and medical centers.
To address concerns around reliability and trust—key barriers to AI adoption in healthcare—OpenEvidence limits its training data to verified medical sources. The company has also entered into formal partnerships with organizations such as the New England Journal of Medicine and the American Medical Association, aiming to ensure accuracy and transparency in clinical information delivery.
Usage of the platform has grown sharply over the past year. OpenEvidence said it supported approximately 18 million clinical consultations from verified US physicians in December, up from around 3 million consultations per month a year earlier. The company positions its technology as a clinical support tool rather than a diagnostic system, with AI models designed to assist physicians rather than replace medical judgment.
OpenEvidence said it plans to use the newly raised capital to invest in research and development and to further scale its AI architecture. The company’s system routes physician queries to specialized medical AI models, a design intended to improve relevance and performance across different clinical contexts.
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