Medical AI startup OpenEvidence has raised $250 million in fresh funding at a $12 billion valuation, doubling its value in just three months as investors pile into healthcare-focused artificial intelligence. The company, backed by Nvidia and Google Ventures, said the Series D round was co-led by Thrive Capital and DST Global, taking its total funding to nearly $700 million.
Investors rush into specialised medical AI
OpenEvidence’s sharp valuation jump from $6 billion in October — when it raised roughly $200 million, according to PitchBook data — underlines growing investor enthusiasm for AI companies that can demonstrate real-world clinical adoption. While much of the generative AI boom has centered on consumer and productivity tools, OpenEvidence reflects a shift toward specialised medical applications as hospitals and physicians increasingly rely on AI to support decisions that directly affect patient outcomes.
AI medical search engine is used by 40% of US physicians
Founded by Daniel Nadler, OpenEvidence builds an AI‑powered medical search engine that helps clinicians rapidly find and synthesise information from peer‑reviewed journals and clinical guidelines. The company said its platform is now used daily by more than 40% of physicians in the United States, across more than 10,000 hospitals and medical centres.
In December alone, OpenEvidence supported around 18 million clinical consultations from verified US physicians, up from about 3 million consultations per month a year earlier, highlighting rapid growth in frontline usage.
Focus on trusted data and clinical partnerships
To address long‑standing concerns around the accuracy and trust in AI for healthcare, OpenEvidence limits its training data to vetted medical sources and has formal partnerships with industry bodies like the New England Journal of Medicine and the American Medical Association. By anchoring its systems in established evidence and guidelines, the company aims to make AI‑assisted answers reliable enough for high‑stakes clinical environments.
New capital to scale R&D and architecture
OpenEvidence said the new capital will be used to invest further in research and development and to scale its AI architecture, which routes physician questions to specialised medical systems for more precise answers. As adoption accelerates in hospitals and clinics, the company is positioning itself as a core decision‑support layer within everyday clinical workflows, rather than a generic AI assistant.
