- Funding Round: OpenEvidence raised $250 million at a $12 billion valuation in a Series D round co-led by Thrive Capital and DST Global, doubling its value since October.
- Market Position: The platform is now used by 40% of U.S. physicians across more than 10,000 hospitals and medical centers nationwide.
- Growth Metrics: The company processed 18 million clinical consultations in December 2025, representing a sixfold increase from the previous year.
Medical AI startup OpenEvidence has raised $250 million at a $12 billion valuation, representing a 12-fold increase from its $1 billion valuation a year ago. The platform is now used by 40% of U.S. physicians.
The Series D round, co-led by Thrive Capital and DST Global, brings total funding to nearly $700 million and establishes OpenEvidence as a leading Healthcare AI company, doubling its valuation since October when it reached $6 billion.
The rapid valuation acceleration signals that investors view medical AI not as speculative technology but as foundational infrastructure. This positions OpenEvidence to capture increasing market share as healthcare systems transition from traditional reference tools to AI-powered decision support.
Physician Adoption Drives Growth
Behind these financial metrics lies explosive user growth across the medical community. “OpenEvidence is used by 40% of physicians in the U.S. and topped $100 million in annual revenue last year,” CEO Daniel Nadler told CNBC.
The platform now supports more than 10,000 hospitals and medical centers nationwide, processing 18 million consultations from verified physicians in December 2025 alone, a sixfold increase from the 3 million monthly consultations recorded in December 2024.
Sixfold consultation growth in one year indicates OpenEvidence has achieved network effects, where physician adoption creates institutional pressure for further adoption across healthcare systems evaluating clinical AI tools.
Solving Medical Information Overload
This rapid adoption stems directly from a crisis in modern medicine: the impossibility of staying current with medical literature. Nadler outlined the challenge at the JPM26 healthcare conference.
“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,” — Daniel Nadler, CEO and Co-founder of OpenEvidence.
With over 679,000 clinical trial articles indexed on PubMed and thousands of new studies published monthly, clinicians face impossible demands.
This volume creates gaps between available evidence and clinical practice as physicians struggle to synthesize findings across hundreds of specialty journals. Therefore, OpenEvidence synthesizes this research in real time, delivering evidence-based recommendations at the point of care.
The scale of this information problem explains why physician adoption has accelerated substantially. When clinicians cannot manually synthesize research across hundreds of journals, AI-powered tools become not merely convenient but necessary to maintain evidence-based practice standards.
Intensifying Market Competition
Yet OpenEvidence doesn’t operate in isolation. The company faces an increasingly crowded field of AI-powered clinical decision support tools.
Five major competitors are challenging UpToDate’s historical dominance: OpenEvidence, ClinicalKey AI, DynaMedex, AMBOSS, and DoxGPT.
Competition has intensified sharply, with OpenEvidence and Doximity engaged in ongoing litigation over alleged prompt hacking, with motions still pending as of January 2026.
Investment Trajectory Shows Rapid Acceleration
Despite these competitive pressures, the company’s funding history reflects surging investor confidence in medical AI applications.
Google Ventures has been a consistent backer through multiple funding rounds, including the Series B round that valued the company at $3.5 billion last July.
“Daniel Nadler is a magnet for talent, attracting top AI researchers and a world-class medical advisory board,” — Google Ventures General Partner Sangeen Zeb said, explaining the firm’s continued investment.
Google Ventures’ repeat investment through three consecutive rounds signals institutional confidence that OpenEvidence’s technology lead remains defensible despite intensifying competition.
The pattern suggests that while competitive threats exist, investors believe OpenEvidence’s first-mover advantage and physician adoption rates create sustainable barriers to entry that competitors will struggle to overcome.
AI Transforms Healthcare Delivery
The platform’s reach continues to expand rapidly. “This year, more than 100 million Americans are going to be treated by a doctor using OpenEvidence. So, AI is here and now, especially medical AI,” Nadler stated.
Clinical studies validate the platform’s effectiveness, showing accurate recommendations across diverse medical cases from emergency medicine to specialized oncology consultations. As healthcare systems adopt AI-assisted decision support at scale, OpenEvidence’s integration across nearly half of U.S. physicians positions it as foundational infrastructure for evidence-based medicine.
For the 100 million patients receiving care from OpenEvidence-using physicians in 2026, treatment decisions will increasingly reflect current medical evidence rather than individual physician recall, potentially reducing diagnostic errors and improving outcomes across millions of clinical encounters throughout the year.
