AI health startup OpenEvidence has secured $250 million in Series D funding at a $12 billion valuation, doubling its previous valuation from October 2023, when it raised $200 million at $6 billion. The round was co-led by Thrive Capital and DST, bringing OpenEvidence’s total funding to $700 million. Backers include major names such as Sequoia, Nvidia, Kleiner Perkins, Blackstone, Bond, Craft Ventures, and the Mayo Clinic. The investment underscores strong confidence from top-tier venture capital in OpenEvidence’s vision, even as new health-focused AI products from OpenAI and Anthropic enter the market. OpenEvidence is an AI-powered medical information platform designed specifically for healthcare professionals. Unlike general-purpose tools like WebMD or consumer-focused AI chatbots, OpenEvidence targets doctors, nurses, and other clinicians, offering fast, evidence-based clinical insights. Its platform is built to support real-time decision-making in patient care, integrating data from peer-reviewed journals, clinical guidelines, and medical databases. The company positions itself as a modern, intelligent alternative to traditional medical reference tools. The startup recently reported impressive user growth, with its free, ad-supported platform serving 18 million clinical consultations from verified healthcare professionals in the U.S. during December alone. That’s a significant increase from about 3 million searches per month a year earlier, reflecting rapid adoption among medical practitioners. The company also announced it has surpassed $100 million in annual revenue, signaling strong commercial traction. While OpenAI and Anthropic have introduced AI tools for healthcare—Anthropic’s Claude for Healthcare and OpenAI’s new health product—OpenEvidence sees its niche as distinct. Anthropic’s offering is aimed at patients, payers, and providers, with a focus on broad clinical support and operational efficiency. OpenAI’s product is geared more toward consumers, offering health information and symptom checking. In contrast, OpenEvidence is built for clinical workflows, emphasizing accuracy, peer-reviewed content, and integration into professional medical practice. The new funding will support OpenEvidence’s expansion into new markets, product development, and continued investment in AI training and data quality. The company plans to enhance its platform’s capabilities, including real-time updates from clinical trials, personalized recommendations, and deeper integration with electronic health records. It also aims to strengthen partnerships with academic medical centers and health systems. Despite the growing competition from tech giants, OpenEvidence’s investors appear unfazed. The participation of healthcare-focused investors like the Mayo Clinic and Blackstone suggests confidence that the company is building a durable, mission-driven platform with real clinical value. The startup’s ability to scale quickly, generate revenue, and serve a critical need in healthcare makes it a standout in the AI health space. OpenEvidence’s success reflects a broader trend: AI is moving beyond consumer applications into specialized, high-stakes domains like medicine. As healthcare systems face rising complexity and information overload, tools that can rapidly deliver accurate, trustworthy insights are becoming essential. With $700 million in funding and strong momentum, OpenEvidence is well-positioned to become a foundational platform for medical professionals worldwide—proving that AI in healthcare can be both commercially viable and clinically impactful.