Backed by Google Ventures and Sequoia, the medical AI tool has seen explosive growth as demand for clinical-grade generative AI surges.
A Breakthrough AI Tool for Healthcare
OpenEvidence, often described as a ChatGPT for medical professionals, has raised $200 million in new funding at a $6 billion valuation, just three months after a previous round that valued the company at $3.5 billion.
- The news, first reported by The New York Times, underscores skyrocketing investor demand for domain-specific AI tools, particularly in healthcare.
- This round was led by Google Ventures, with participation from Sequoia Capital, Kleiner Perkins, Blackstone, Thrive Capital, Coatue, Bond, and Craft.
What OpenEvidence Does
Founded in 2022, OpenEvidence offers a generative AI platform tailored specifically for healthcare use cases.
- Trained on peer-reviewed medical journals like JAMA and The New England Journal of Medicine, the tool enables clinicians to ask complex questions and receive evidence-backed responses in real time.
- The platform is free to verified doctors and nurses, supported instead by advertising revenue.
Unlike general-purpose AI chatbots, OpenEvidence is built for precision, giving medical professionals confidence in real-time decision support without the risk of hallucinated answers.
Explosive Growth in Clinical Use
OpenEvidence is scaling rapidly.
- Since July, the number of monthly clinical consultations has nearly doubled to 15 million.
- That surge highlights the platform’s increasing role as a point-of-care reference tool, similar to how doctors historically relied on UpToDate or PubMed—but faster and more intuitive.
Its quick growth has positioned it at the forefront of the AI-in-healthcare movement, bridging the gap between cutting-edge machine learning and clinical-grade information retrieval.
Why Investors Are So Eager
The back-to-back funding rounds and dramatic valuation jump—from $3.5 billion to $6 billion in just 90 days—signal a broader trend:
- Vertical AI tools (AI built for specific industries) are attracting massive capital.
- OpenEvidence sits at the intersection of regulatory-sensitive enterprise AI, high-stakes decision-making, and huge addressable markets.
- Healthcare, with its enormous demand for timely, accurate data, is an ideal fit.
Investors see this as a moment to back the infrastructure that could one day reshape clinical workflows, optimize patient outcomes, and streamline diagnosis and treatment planning.
A New Layer in the Medical Stack
OpenEvidence is positioning itself as more than just an AI chatbot.
- It aims to become a trusted assistant embedded in daily clinical decision-making—not replacing doctors, but enhancing their access to high-quality information.
- The platform’s early traction suggests it could become a cornerstone in the digital health stack, especially as regulatory compliance, explainability, and data provenance remain critical in healthcare AI.
As the company expands, future product integrations may include EHR systems, hospital IT infrastructure, and real-time care coordination tools.
