OpenEvidence, an AI-enabled medical research aggregate platform for doctors, has scored $210 million in Series B funding, boosting the company's valuation to $3.5 billion.
The round was co-led by Google Ventures and Kleiner Perkins.
Sequoia Capital, which led OpenEvidence's Series A round earlier this year, participated in the latest round along with Coatue, Conviction and Thrive.
In a statement, OpenEvidence announced that it has raised over $300 million since its founding in 2022.
WHAT IT DOES
OpenEvidence is a medical search engine and AI application that aggregates, synthesizes and visualizes clinically relevant evidence in understandable and accessible formats, enabling users to make evidence-based decisions.
With OpenEvidence, clinicians input clinical questions or patient case details and get point-of-care answers based on the latest research, along with references and follow-up suggestions.
OpenEvidence will use the funding to increase critical content partnerships.
"At a time when U.S. healthcare faces the dual challenges of clinician burnout and a projected physician shortfall of nearly 100,000 by 2030, the question of AI's role in bridging the gap is paramount," Daniel Nadler, founder of OpenEvidence, said in a statement.
"When physicians' lives are hard, patients' lives are harder. OpenEvidence's commitment to building an AI copilot for clinicians is rooted in the belief that AI will be a force for good in the world, ultimately benefiting both healthcare professionals and the patients they serve."
MARKET SNAPSHOT
In June, OpenEvidence signed a multi-year content agreement with the JAMA Network.
Under the agreement, all published content from JAMA, JAMA Network Open and the 11 JAMA specialty journals, comprising full text and multimedia, will inform the answers delivered on the OpenEvidence platform.
In April, OpenEvidence announced that it is fully compliant with the requirements of the Health Insurance Portability and Accountability Act (HIPAA).
U.S. covered entities that choose to input protected health information on OpenEvidence agree that the company's business associate agreement will govern the handling of the information.
In February, OpenEvidence closed a Series A funding round with Sequoia Capital, boosting its valuation to $1 billion and bringing its total raise to more than $100 million.
In 2024, OpenEvidence announced that its app is available on both iPhone and Android devices.
