OpenEvidence Reports Rapid Physician Adoption and $250 Million Series D Funding

OpenEvidence, an artificial intelligence–based medical search company, has reported significant growth in physician usage and a major increase in funding over the past year. The company develops an AI-powered medical search engine and a generative chatbot designed exclusively for doctors, with a focus on summarizing and simplifying evidence-based medical information.

According to the company, physician adoption expanded rapidly over the last year. In December alone, OpenEvidence said it supported approximately 18 million clinical consultations conducted by verified U.S. physicians, compared with about 3 million consultations per month a year earlier.

The platform is now used daily, on average, by more than 40% of physicians in the United States, spanning over 10,000 hospitals and medical centers nationwide. OpenEvidence also stated that doctors using its tools treated around 100 million Americans last year.

The company, which offers its service free to doctors and generates revenue through advertising, reported more than $100 million in annual revenue last year, according to executives. Over the past year, OpenEvidence has raised roughly $700 million across multiple funding rounds.

Most recently, the company secured $250 million in Series D financing. OpenEvidence said the round doubled its valuation to $12 billion. The valuation previously stood at $6 billion in October, when the company raised $200 million in a series C round. That round followed a $210 million series B raise completed in July, three months earlier. The Information first reported the series D round in December.

The latest financing was co-led by Thrive Capital and DST. OpenEvidence said a number of existing investors also participated, including Sequoia, Google Ventures, Nvidia, Kleiner Perkins, Blackstone, Henry Kravis, Coatue, Conviction, ICONIQ, Greycroft, Breyer Capital, BOND, Craft Ventures, Goanna, Meritech, Alkeon, and Mayo Clinic.

The company plans to use the new capital to support research and development and to cover the compute costs associated with its multi–AI agent architecture, as well as to expand its content licensing efforts. “The lion’s share is training new models, training the next generation of digital intelligence, and compute costs,” said Daniel Nadler, founder and chief executive officer of OpenEvidence.

OpenEvidence has positioned its platform around licensed, peer-reviewed medical sources. Its AI models are trained solely on medical journals and medical data, rather than general internet content. The company has established content partnerships with organizations including the American Medical Association, The New England Journal of Medicine, the Journal of the American Medical Association, all 11 JAMA specialty journals, the American Academy of Family Physicians, and the American College of Emergency Physicians. Nadler has said these partnerships have been central to building trust among physicians.

In December, OpenEvidence introduced a Dialer feature intended to provide HIPAA-secure communication for clinicians. The company has also outlined plans to develop multiple medically specialized AI models that function together, reflecting how clinical teams collaborate in hospital settings.

Industry interest in healthcare-focused AI has increased. Recently, Anthropic introduced Claude for Healthcare, while OpenAI launched ChatGPT for Healthcare tools aimed at clinicians, researchers, and administrators. OpenEvidence’s leadership has emphasized its exclusive focus on healthcare as a differentiating factor as competition in the sector grows.

OpenEvidence Reports Rapid Physician Adoption and Secures $250 Million in Series D Funding

OpenEvidence has achieved significant milestones with rapid physician adoption and a newly closed $250 million Series D funding round, positioning the company as one of the most valuable healthcare AI startups worldwide. The latest capital infusion for OpenEvidence was co‑led by Thrive Capital and DST Global and brings the company’s total funding to nearly $700 million. This round also doubled OpenEvidence’s valuation to about $12 billion, reflecting strong investor confidence in its technology and growth trajectory.

The platform from OpenEvidence is rapidly being adopted by physicians across the United States, with the company reporting that its AI‑powered medical search and clinical support tools are used daily by more than 40 % of U.S. doctors and integrated into workflows at over 10,000 hospitals and medical centers. This level of uptake underscores how OpenEvidence’s citation‑linked, evidence‑based answers are helping clinicians make faster, more informed decisions at the point of care.