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OpenEvidence Raises $250 Million at $12 Billion Valuation, Doubling in Three Months

Investor enthusiasm reflects company-reported physician uptake alongside an ad-supported path to revenue.

Overview

  • Thrive Capital and DST co-led the Series D round, which brings total financing to roughly $700 million with backers including Sequoia, GV, Kleiner Perkins, Nvidia, Mayo Clinic and others.
  • The company says its platform supported about 18 million clinical consultations by verified U.S. physicians in December, up from roughly 3 million per month a year earlier.
  • OpenEvidence reports daily use by more than 40% of U.S. physicians across over 10,000 hospitals and medical centers, though these figures are company-provided.
  • The tool is free for clinicians and funded by advertising, and the company says it surpassed a $100 million annualized revenue run rate last year.
  • OpenAI and Anthropic have launched HIPAA-compliant health products, while OpenEvidence cites curated medical-journal training data and physician feedback loops as key differentiators.