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OpenEvidence hits $12B valuation, with new round led by Thrive, DST
OpenEvidence, an AI-powered medical information platform, has raised $250 million in Series D funding, achieving a $12 billion valuation—double its previous valuation. With support from prominent VC firms and having served 18 million clinical consultations in December, OpenEvidence positions itself against ChatGPT and Anthropic's health products, while reaching $100 million in revenue.
Key points
- OpenEvidence raised $250 million in Series D funding, increasing its valuation to $12 billion.
- The latest funding round was co-led by Thrive Capital and DST, indicating strong investor confidence.
- The company's valuation doubled from October, where it had raised $200 million at $6 billion.
- Total funding raised by OpenEvidence now stands at $700 million from various prominent venture firms.
- OpenEvidence serves as an AI-powered information platform for doctors, aimed at improving healthcare access.
- It reported delivering 18 million clinical consultations in December, up from 3 million a year ago.
- The company has surpassed $100 million in revenue, highlighting its growth and market demand.
Why it matters
- OpenEvidence's rapid valuation growth reflects the increasing investment in healthtech driven by AI advancements.
- The rise in demand for AI in healthcare parallels the 2025 trend of digital transformation across industries.
- Competition from OpenAI and Anthropic underscores the race among tech companies to dominate the healthcare information space.
- Similar startups are likely to emerge as AI applications in medicine grow, leading to a more competitive market.
The rapid ascent of OpenEvidence, with substantial funding and increased usage, highlights a significant shift in healthcare information delivery, emphasizing AI's transformative role in the sector.