TLDR: OpenEvidence, a leading AI-powered medical search and decision-making platform, has successfully raised $210 million in a Series B funding round, pushing its valuation to $3.5 billion. The investment, co-led by GV and Kleiner Perkins, will fuel the expansion of its AI tools and strategic content partnerships, further solidifying its position as a critical resource for clinicians.
Miami-based OpenEvidence, the innovative healthcare-focused artificial intelligence platform company, announced today a significant Series B funding round, securing $210 million. This latest investment elevates the company’s valuation to an impressive $3.5 billion, a substantial increase from its $1 billion valuation in February. The round was co-led by prominent venture capital firms GV and Kleiner Perkins.
Founded in 2021 by Daniel Nadler, OpenEvidence was established with the mission to revolutionize how physicians access and apply the vast and ever-growing body of medical knowledge. The company’s core offering is a free, AI-powered search and decision-support platform designed to assist doctors in making high-stakes clinical decisions rapidly and accurately at the point of care.
OpenEvidence has rapidly gained traction within the medical community, with its AI search tool currently utilized by an estimated 40% of doctors in the United States. This widespread adoption has propelled it into over 10,000 hospitals and clinics, making it the fastest-growing healthcare platform in history, having captured the trust of over 350,000 doctors in less than two years.
The platform’s strength lies in its sophisticated AI, which is trained on peer-reviewed medical literature from highly trusted sources, including the Journal of the American Medical Association (JAMA), the New England Journal of Medicine (NEJM), and other leading journals. This allows clinicians to input patient-specific questions or clinical scenarios and receive tailored, evidence-based insights and referenced answers within seconds, effectively eliminating the inefficiencies associated with traditional medical databases. The system is also Health Insurance Portability and Accountability Act (HIPAA)-compliant, ensuring data privacy and security, and is specifically built to meet the demanding, time-sensitive needs of frontline healthcare professionals.
Investors expressed strong confidence in OpenEvidence’s impact. GV, a co-lead investor, stated, “OpenEvidence allows clinicians to get immediate evidence-based answers at the point of care and is used today by 40% of doctors in the US.” Kleiner Perkins highlighted the platform’s reach, noting, “This year, more than 100 million Americans will be treated by a doctor who has used OpenEvidence. Word of mouth has propelled OpenEvidence into 10,000+ hospitals and clinics, helping healthcare providers access, evaluate, and apply the world’s medical knowledge.” Legendary investor John Doerr remarked, “It’s hard to imagine a better use for AI than OpenEvidence. Daniel Nadler and his world-class team at OpenEvidence are building what I believe will become an AI-era treasure—a life-saving resource for doctors, patients, and their families. I can’t imagine the future without it.”
Luke Sophinos further elaborated on the technology, describing OpenEvidence as “essentially ChatGPT but trained on medical data, AI,” and praised its unprecedented growth. The company’s strategic content partnerships with major medical publishers are also a key differentiator, ensuring access to the most current and reliable medical information.
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The successful funding round has also reportedly made CEO Daniel Nadler a billionaire by Forbes estimates. Nadler previously founded Kensho, a financial analytics company acquired by S&P Global, demonstrating his track record in leveraging AI for complex data analysis.
