OpenEvidence, dubbed 'ChatGPT for doctors,' secures $15B valuation in new round

The rapid surge of artificial intelligence in healthcare is entering a new era, as OpenEvidence, a Miami-based AI search engine for doctors, has pulled in a staggering $250 million investment from top hospital systems and venture capital powerhouse Andreessen Horowitz. The infusion of fresh capital values the company at $15 billion, according to people familiar with the matter, making it one of the sector's new heavyweights. This news comes on the heels of a January funding round that already catapulted OpenEvidence to a $12 billion valuation.

Founded in 2022, OpenEvidence positions its AI-powered platform as "the fastest-growing application for physicians in history." The company says more than two-thirds of U.S. doctors now rely on its tool for diagnostic and treatment advice, underscoring the pace at which AI is taking root in clinics and hospitals across the country. Over the past year, OpenEvidence has raised more than $1 billion from a roster of influential backers including Thrive Capital, DST, GV, Kleiner Perkins, and Sequoia Capital.

The company’s connections run deep into both technology and healthcare. Investors include Nvidia, which in the midst of a wave of major AI mergers and acquisitions, recently also agreed to acquire HuggingFace for nearly $13 billion. OpenEvidence counts partnerships with some of the industry's biggest names, integrating its search engine with Google and Microsoft’s AI tools, and just this week, Anthropic announced a new collaboration with the Miami-based firm.

As technology giants like OpenAI and Anthropic increasingly build their own healthcare products, rather than only supplying underlying AI models, acquisition targets offering specialized platforms, data, and established user bases, like OpenEvidence, are growing more attractive. While sources note that the company could be open to a sale, particularly as concerns about computing resources and anti-AI sentiment threaten the pace of data center expansion, it could not be verified whether any concrete M&A interest has materialized. Some close to the company suggest that OpenEvidence may prefer to remain independent, at least for now.

The startup’s appeal as an M&A target is clear. It already has inroads with medical professionals, experience managing sensitive patient data, and a presence in a market that is both vast and highly regulated. With Nvidia and other major investors on board, and in the context of recent blockbuster deals such as Stripe agreeing to buy OpenRouter for roughly $8 billion, the competition to snap up leading AI talent and assets is only intensifying.

OpenEvidence’s swift rise highlights how AI is reshaping the healthcare landscape, as physicians increasingly lean on digital tools to aid clinical decision-making. With its latest funding round, the company is well positioned to compete in a field where even tech’s biggest players are racing to stake their claims.