OpenEvidence, an AI search engine for doctors, is the latest AI darling to raise back-to-back funding rounds.
The company recently raised $250 million in investment from hospital systems and Andreessen Horowitz, valuing OpenEvidence at $15 billion, according to people familiar with the matter. In January, OpenEvidence raised a new round of funding that valued the company at $12 billion.
OpenEvidence could be open to an M&A deal that includes access to compute, which could become scarcer in the future if rising anti-AI sentiment curbs data center expansion, according to a person familiar with the matter. It could not be verified if the company has M&A interest from possible acquirers, and OpenEvidence may prefer to remain independent.
Based in Miami, OpenEvidence has raised over $1 billion in the past year, from investors including Thrive Capital, DST, GV, Kleiner Perkins, and Sequoia Capital. The startup has called its AI-powered search engine “the fastest-growing application for physicians in history.”
The new funding round comes as OpenAI, Anthropic, and other AI giants make a bigger push into healthcare. Instead of just providing the models that power other companies’ products, they’re increasingly building healthcare tools of their own.
As an acquisition, OpenEvidence could offer a shortcut. It already has doctors using its product, experience handling sensitive medical information, and a foothold in a massive market that AI companies increasingly want to own. Founded in 2022, OpenEvidence has already become widely used by medical professionals, with more than two-thirds of U.S. doctors relying on the AI product for its diagnostic and treatment advice.
OpenEvidence maintains relationships with several of the largest technology companies and counts Nvidia as an investor. Anthropic announced a partnership with the company this week. OpenEvidence integrates with both Google and Microsoft’s AI tools.
There has been a wave of major AI M&A lately, with Nvidia buying HuggingFace for nearly $13 billion and Stripe buying OpenRouter for around $8 billion, as the race to acquire AI talent remains strong.
