OpenEvidence has raised $250 million in a Series D funding round co-led by Thrive Capital and DST Global, bringing its total funding to nearly $700 million and pushing the company’s valuation to $12 billion.

The Miami-based company, which develops a clinical search platform for physicians, says its tool is now used by more than 40% of doctors in the U.S., supporting an estimated 18 million clinical consultations in December 2025 alone. The company claims it is the most widely adopted AI system among American physicians, spanning usage across over 10,000 hospitals and healthcare facilities.

OpenEvidence’s platform is designed to synthesize answers to clinical questions in real time, drawing exclusively from peer-reviewed medical literature and clinical guidelines. Unlike general-purpose AI tools, it is not trained on open internet content. Instead, it has secured licensing agreements with medical publishers and organizations such as the New England Journal of Medicine, the American Medical Association, and the American College of Cardiology.
“Without a technology like OpenEvidence, doctors may miss critical new findings or guidelines simply because they lack the time to find them,” said Daniel Nadler, founder and CEO. “Doctors want to provide the best care to patients. OpenEvidence is the tool that safely allows them to do that.”

The company’s architecture uses multiple AI models trained for specific clinical specialties, coordinated by a central system that routes physician queries to the most appropriate model. This system is aimed at delivering higher-quality, context-specific answers.

The new funding will go toward research and development, and scaling the infrastructure required to support the platform’s computational demands. OpenEvidence, which is free for physicians and supported by advertising, reports it surpassed $100 million in annual revenue less than a year after launching its commercial operations.

Backers from previous rounds include Sequoia, Google Ventures, Nvidia, Kleiner Perkins, and Mayo Clinic, among others.

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