TLDR: OpenEvidence, an artificial intelligence startup, has successfully closed a $200 million Series C funding round, just three months after its Series B. This latest investment boosts the company’s valuation to an impressive $6 billion, highlighting its explosive growth and the increasing adoption of its AI-powered medical tools among healthcare professionals.
LAS VEGAS, Nev. – OpenEvidence, a three-year-old artificial intelligence startup, announced a significant milestone at HLTH25, securing $200 million in Series C funding. This substantial investment, which comes merely three months after its $210 million Series B round, has propelled the company’s valuation to an astounding $6 billion. The news was confirmed by Daniel Nadler, Ph.D., one of OpenEvidence’s co-founders, to Fierce Healthcare on Monday, October 20, 2025. The Series C round was led by Google Ventures, with continued support from existing investors including Sequoia, Kleiner Perkins, Thrive, and Coatue. New prominent investors such as BOND (Mary Meeker), Blackstone, and Craft also joined the round, underscoring strong investor confidence in OpenEvidence’s trajectory.
Since its inception in 2022, OpenEvidence has raised nearly $500 million. The company has developed an innovative AI-powered medical search engine and a generative AI chatbot designed exclusively for doctors. This technology aims to summarize and simplify complex evidence-based medical information, making it readily accessible to physicians. Dr. Nadler emphasized the critical role of AI in their operations, stating, “AI is expensive. Training new medical AI models—including search, ranking, retrieval, and clinical-trial-matching models—demands enormous compute resources.” He further noted that their work encompasses both natural language processing and computer vision, as they train proprietary models to interpret and rank figures and tables from scientific papers, with each new generation compounding these costs.
The adoption of OpenEvidence’s platform has been nothing short of explosive. The company now supports over 16 million clinical consultations per month, marking a nearly 60% increase since its Series B announcement in July. Usage among doctors and nurses in the United States has surged by 830% in the past year. In September alone, U.S. doctors utilized OpenEvidence to support approximately 15 million clinical consultations, a remarkable figure considering there are only about 1 million doctors in the entire United States. Dr. Nadler highlighted this unprecedented adoption rate, remarking, “This year, more than 100 million Americans will be treated by a doctor using OpenEvidence. No technology in the history of healthcare has been adopted by doctors as quickly as OpenEvidence, other than perhaps Google.com itself.”
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The company offers its chatbot to physicians for free, a strategy that has fostered organic growth through word-of-mouth referrals among medical professionals. The fresh capital from the Series C round will be strategically deployed to further advance OpenEvidence’s AI technology and expand its capabilities. In July, the company had already reported active usage across more than 10,000 hospitals and medical centers nationwide and had released an AI agent specifically for more advanced medical research, indicating a continuous drive for innovation in the healthcare AI sector.
