OpenEvidence, an AI-powered medical search platform used by clinicians, said it has raised $250 million in a Series D financing that values the company at $12 billion, positioning it as the highest-valued healthcare AI company. Thrive Capital and DST Global co-led the financing. This round brings the total funding raised over the past 12 months to roughly $700 million. And it listed a broad roster of prior investors, including Sequoia, Google Ventures, Nvidia, Kleiner Perkins, Blackstone, Henry Kravis, Coatue, Thrive Capital, Conviction, ICONIQ, Greycroft, Breyer Capital, BOND, Craft Ventures, Goanna, Meritech, Alkeon, and Mayo Clinic, among others.
The Miami-based company offers what it describes as a “brain extender” for clinicians, delivering real-time, citation-linked answers synthesized from peer-reviewed medical literature. OpenEvidence says it is trained only on medical journals and medical data, rather than the broader internet, and has pursued licensing and content partnerships with major medical publishers and guideline organizations, including the New England Journal of Medicine, the American Medical Association, the National Comprehensive Cancer Network, and the American College of Cardiology.
OpenEvidence said that the new funding will be deployed primarily toward research and development and the compute costs associated with its “multi-agent” architecture, which it describes as an orchestrated system of medically specialized AI models routed by a central coordinating model to address questions by sub-specialty.
OpenEvidence also highlighted growth and usage metrics, saying more than 100 million Americans were treated by a doctor using the platform in the past year. The company said that in December 2025, the platform supported about 18 million clinical consultations from logged-in, verified doctors and healthcare professionals in the U.S., up from roughly 3 million per month a year earlier. It also said it is free to doctors and ad-supported, and claimed it reached $100 million in annual revenue less than a year after building out its commercial team.
The company cited an independent report from Offcall published in December 2025, which it said found that OpenEvidence is used by more American physicians than all other AI tools for physicians combined.
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“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,” Nadler said. “Without a technology like OpenEvidence, doctors may miss critical new findings or guidelines simply because they lack the time to find them. Doctors want to provide the best care to patients. OpenEvidence is the tool that safely allows them to do that. Our mission is to help doctors save lives and improve patient care.”
Daniel Nadler, Founder and CEO, OpenEvidence
“OpenEvidence is effectively the default operating system of medical knowledge in the United States today. We are thrilled to partner with them.”
Kareem Zaki, Partner, Thrive Capital
