OpenEvidence Raises $250M and Reaches $15B Valuation

Key Takeaways

1OpenEvidence raises $250 million and reaches a valuation of $15 billion

2The company may consider a sale or an agreement to access computing resources

3More than two-thirds of American doctors would use its AI, with partnerships announced with Anthropic, Google, and Microsoft

Why it matters : OpenEvidence is establishing itself as a central player in medical AI, as investments and consolidations accelerate in the sector.

OpenEvidence, an AI search engine for doctors founded in 2022 and based in Miami, has just been valued at $15 billion following a $250 million funding round, according to sources close to the matter. The company is also exploring merger scenarios, while partnerships with players like Anthropic and integrations with Google and Microsoft accompany its rollout among healthcare professionals.

M&A on the Rise, Possible Scarcity of Computing Power, and Open Options

Major mergers and acquisitions are multiplying in the AI sector, such as Nvidia's purchase of HuggingFace for nearly $13 billion and Stripe's acquisition of OpenRouter for about $8 billion, as the competition to attract AI talent remains intense. In this context, OpenEvidence may consider a sale and is reportedly open to a deal that includes access to computing resources, which could become harder to obtain if rising anti-AI sentiment hampers the expansion of data centers. However, it has not been possible to verify whether any potential buyers have come forward, and OpenEvidence may prefer to remain independent.

Clinical Product, Claimed Usage, and Bridges with Major Players

Founded in 2022 and based in Miami, OpenEvidence develops an AI search engine aimed at doctors. Healthcare professionals are already using this product, and the company claims that more than two-thirds of American doctors rely on its AI for diagnostic and therapeutic advice. OpenEvidence describes its application as "the fastest-growing app for doctors in history." The company collaborates with several major tech firms, counts Nvidia among its investors, and announced a collaboration with Anthropic this week. It also emphasizes its expertise in handling sensitive medical information as well as its position in a particularly vast healthcare market, a sector that AI companies are increasingly seeking to penetrate.

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Accelerating Capital Raised and Valuations

According to sources close to the matter, OpenEvidence raised $250 million in a new funding round, bringing its valuation to $15 billion. This amount includes recent investments from hospital systems and Andreessen Horowitz. In January, a previous round had valued the company at $12 billion. Over the past year, OpenEvidence has raised more than $1 billion from investors such as Thrive Capital, DST, GV, Kleiner Perkins, and Sequoia Capital.

AI Giants Build Their Own Health Tools

OpenAI, Anthropic, and other AI companies are strengthening their presence in the healthcare sector by directly developing their own medical tools, beyond providing models to other companies. In this ecosystem, OpenEvidence integrates with the AI tools of Google and Microsoft.