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

In a significant move that illustrates confidence in its business model, OpenEvidence has successfully raised $250 million in a Series D funding round, bringing its valuation to an impressive $12 billion. This round was co-led by Thrive Capital and DST, showcasing strong investor support despite the competitive landscape that includes offerings from OpenAI and Anthropic. The latest valuation marks a remarkable increase from the company's previous funding round in October, where it secured $200 million at a $6 billion valuation, led by GV. To date, OpenEvidence has raised a total of $700 million, attracting investments from high-profile backers such as Sequoia, Nvidia, Kleiner Perkins, Blackstone, Bond, Craft Ventures, and the Mayo Clinic. OpenEvidence operates as an AI-driven medical information platform tailored specifically for healthcare professionals, positioning itself as a modern counterpart to WebMD for the current digital age. Unlike Anthropic’s Claude for Healthcare, which targets patients, payers, and providers, OpenEvidence focuses on serving doctors directly. This strategic direction places it in competition with consumer-focused health products like ChatGPT’s new offerings. Remarkably, the platform has demonstrated rapid growth, providing 18 million clinical consultations from verified healthcare professionals in the U.S. just last December, a stark rise from about 3 million searches per month a year earlier. Additionally, the company has reported surpassing $100 million in revenue, highlighting its robust market presence and operational success.