OpenEvidence hits $12B valuation, with new round led by Thrive, DST

Investors backing OpenEvidence appear unfazed by the growing number of health-focused information products emerging from major AI labs such as OpenAI and Anthropic.

On Wednesday, OpenEvidence announced that it has secured an additional $250 million in Series D funding at a valuation of $12 billion. The round was co-led by Thrive Capital and DST, underscoring continued investor confidence in the company’s growth trajectory.

The new valuation represents a significant jump from the company’s previous funding round just a few months ago. In October, OpenEvidence raised $200 million at a $6 billion valuation in a round led by GV. With this latest raise, OpenEvidence says it has now brought in a total of $700 million in funding to date. Its investor roster includes Sequoia, Nvidia, Kleiner Perkins, Blackstone, Bond, Craft Ventures, Mayo Clinic, and several others.

OpenEvidence positions itself as an AI-powered medical information platform, often compared to what WebMD represented for an earlier era of the internet. Unlike consumer-focused health tools, however, OpenEvidence is explicitly designed for clinicians, tailoring its offerings to the needs of practising physicians and other healthcare professionals. That focus places it closer to competition with Claude for Healthcare, which targets patients, payers, and providers, while ChatGPT’s newer health-related features are aimed more directly at consumers.

According to the company, its free, ad-supported platform handled 18 million clinical consultations from verified healthcare professionals in the United States during December alone. That figure marks a sharp increase compared with roughly 3 million searches per month recorded a year earlier. OpenEvidence also disclosed that it has surpassed $100 million in revenue, highlighting the rapid adoption and commercial traction of its product within the medical community.