AI Firm OpenEvidence Raises $250 Million, Valued at $15 Billion
OpenEvidence, an AI search service for doctors, has secured $250 million in new funding, boosting its valuation to $15 billion. The company has rapidly gained traction among healthcare professionals.
OpenEvidence, an artificial intelligence company providing AI search services for physicians, has raised $250 million in a funding round from hospital systems and Andreessen Horowitz. This investment values the company at $15 billion, a significant increase from its January valuation of $12 billion.
The Miami-based company, founded in 2022, has experienced rapid growth. Over two-thirds of U.S. physicians reportedly rely on OpenEvidence for diagnostic and treatment advice. The company has raised over $1 billion in the past year from investors including Thrive Capital, DST, GV, KPCB, and Sequoia Capital. Nvidia is also listed as an investor.
There are reports that OpenEvidence might be open to a sale, particularly given potential future constraints on computing power. The company's existing computing resources could be attractive to potential acquirers looking to enter the healthcare market.
OpenEvidence's success comes as major AI players like OpenAI and Anthropic increasingly target the healthcare sector. The company offers a pathway into the lucrative U.S. healthcare market, with an established user base of doctors and experience handling sensitive medical data. OpenEvidence has also integrated with AI tools from Google and Microsoft and recently partnered with Anthropic.