OpenEvidence, an AI platform for medical professionals, has raised $200 million in a recent funding round led by Google Ventures, boosting its valuation from $3.5 billion in July to $6 billion, demonstrating rapid growth and strong investor interest.

Since its founding in 2022, OpenEvidence has experienced exponential growth, with its monthly clinical consultations nearly doubling to over 15 million since July, and now serving over 430,000 U.S. doctors across more than 10,000 hospitals.

The platform is designed to synthesize complex medical knowledge quickly, providing verified, evidence-based information that supports clinical decision-making, and has become widely adopted by healthcare workers including doctors and nurses.

OpenEvidence's growth is driven by the increasing volume of medical literature, which doubles every five years, and the platform's revenue is projected to reach $100 million annually by 2026, up from $50 million last year.

The company claims that over 100 million Americans will be treated by a doctor using OpenEvidence this year, highlighting its widespread adoption across the healthcare system.

OpenEvidence targets high-stakes clinical decision support at the point of care, positioning itself as a vertical AI solution competing with established tools like UpToDate, in a global market expected to reach around $6 billion in 2024.

The platform provides trustworthy, peer-reviewed, evidence-based content secured from sources like NEJM and JAMA, which is crucial for safety-critical healthcare decisions.

OpenEvidence's AI helps physicians access and analyze millions of peer-reviewed publications rapidly, improving research speed and accuracy, with clinical consultations increasing from 10 million to 16.5 million per month.

Founded by Daniel Nadler, a former AI entrepreneur, the company has raised nearly $500 million and is expanding its AI capabilities, including features like DeepConsult for advanced evidence synthesis.

OpenEvidence operates on an ad-supported model, offering free access to verified U.S. clinicians, and has onboarded approximately 60,000 to 70,000 clinicians monthly, supported by partnerships with institutions like the Mayo Clinic.

The recent funding round was led by Google Ventures, with participation from major investors such as Sequoia Capital, Kleiner Perkins, Blackstone, and Thrive Capital, reflecting strong confidence in its growth potential.

Despite its success, OpenEvidence faces challenges including regulatory scrutiny, clinician trust, and ethical concerns related to data privacy and conflicts of interest due to its advertising-supported model.

OpenEvidence's CEO Daniel Nadler, who previously sold Kensho for $550 million, has seen his net worth rise to approximately $3.6 billion, driven by the company's rapid valuation increase.