OpenEvidence, an AI platform for doctors, announced Wednesday it has raised $250 million in a Series D funding round that doubled its valuation to $12 billion.
Notably, the round marks the fourth fundraise for the Miami-based startup in less than a year. In total, OpenEvidence has raised nearly $700 million in funding since its 2021 inception and was valued at $6 billion at the time of its Series C in October. Thrive Capital and DST co-led its latest raise. Other backers include GV, Sequoia Capital, Kleiner Perkins and Coatue, among others.
OpenEvidence describes itself as a specialized AI-powered medical search engine that serves as a “brain extender” for clinicians by providing citation-linked answers from medical literature. It reached $100 million in annual revenue in January. The platform is free to doctors and ad-supported.
The raise comes at an interesting time, considering that many of the large AI companies such as OpenAI and Anthropic are incorporating “health” offerings into their products (ChatGPT for Health and Claude for Health).
For its part, OpenEvidence says that in December it supported about 18 million clinical consultations from verified physicians in the U.S., up from about 3 million consultations per month a year ago. The startup also claims that its platform is used on a daily basis, on average, by more than 40% of physicians in the U.S. today in over 10,000 hospitals and medical centers.
Last year, more than 100 million Americans were treated by a doctor using OpenEvidence, according to the company.
“If a doctor tried to stay current by reading only the new evidence in the top 10 medical journals and only the most recent changes to their specialty guidelines, it would take nine hours of their day, each day,” said CEO Daniel Nadler, who co-founded the company with Zachary Ziegler, in a release. “Without a technology like OpenEvidence, doctors may miss critical new findings or guidelines simply because they lack the time to find them.”
AI-related healthcare is one of the spaces that has seen a significant rise in funding globally, Crunchbase data shows. Overall funding to the space rose in 2025, as more startups are tackling high-pain and high-cost parts of the healthcare system.
Investors put an estimated $14 billion into seed- through growth-stage funding to companies in AI-powered health tech categories in 2025, Crunchbase data shows. That means 2025 funding was 63% higher than the $8.6 billion raised in all of 2024.
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