OpenEvidence Secures $210 Million Funding Round, Reaching $3.5 Billion Valuation

Cambridge, MA – OpenEvidence, an AI-powered medical search and decision support platform, has successfully raised $210 million in a Series B funding round, propelling its valuation to $3.5 billion. The company, founded by serial entrepreneur Daniel Nadler, aims to utilize the capital to expand its strategic content partnerships and enhance its advanced medical knowledge library. This significant investment underscores growing confidence in AI's transformative role within clinical decision-making.

OpenEvidence was established to address the overwhelming volume of medical research that physicians face, with new studies published constantly. The platform provides an AI-powered solution, akin to a "ChatGPT for doctors," that synthesizes peer-reviewed clinical research to offer accurate and efficiently sourced answers. This approach helps clinicians make high-stakes decisions at the point of care, reducing the lag between new evidence and bedside application.

The company has achieved remarkable adoption rates, with over 40% of U.S. physicians actively using its platform across more than 10,000 hospitals and medical centers nationwide. OpenEvidence now handles approximately 8.5 million clinical consultations per month, demonstrating a staggering 2,000% year-over-year growth in consultations. Daniel Nadler, who was named to the TIME100 Health list in 2025, stated, "When physicians' lives are hard, patients' lives are harder. OpenEvidence's commitment to building an AI copilot for clinicians is rooted in the belief that AI will be a force for good in the world."

The Series B round was co-led by Google Ventures (GV) and Kleiner Perkins, with participation from previous investor Sequoia Capital, Coatue, Conviction, and Thrive. This brings OpenEvidence's total capital raised to over $300 million since its founding. Alongside the funding announcement, OpenEvidence also unveiled DeepConsult™, an advanced AI agent designed for PhD-level evidence syntheses, offered free to verified U.S. clinicians. John Doerr, Chairman of Kleiner Perkins, remarked, "It's hard to imagine a better use for AI than OpenEvidence."

OpenEvidence's rapid expansion occurs amidst a critical period for healthcare, marked by physician burnout and a projected shortage of medical professionals. The platform's free-to-doctor model, generating revenue primarily through advertising from pharmaceutical companies, has facilitated widespread adoption without requiring lengthy institutional procurement processes. This unique strategy positions OpenEvidence as a significant player in the evolving AI-powered clinical decision support market.