OpenEvidence, an AI search engine for doctors, is currently valued at $15 billion after it managed to raise $250 million in investment from hospital systems and Andreessen Horowitz, people familiar with the matter told Business Insider. In January, OpenEvidence raised a new round of funding that valued the company at $12 billion. We take a look at what is OpenEvidence, what services it provides and other details.
What is OpenEvidence?
Founded in 2022 by Daniel Nadler, OpenEvidence develops a specialised AI-powered medical search engine that helps clinicians quickly find and synthesise information from peer-reviewed journals and clinical guidelines.
It is often described as the “ChatGPT for doctors” because physicians can ask questions in natural language and receive AI-generated answers backed by medical sources. The platform is free to clinicians in the United States and Canada.
The company said, as reported by Reuters, its platform is used on a daily basis by more than 40% of physicians in the United States, across over 10,000 hospitals and medical centres.
By limiting its training data to trusted medical sources and securing formal partnerships with organisations such as the New England Journal of Medicine and the American Medical Association, the company aims to address concerns about accuracy and trust that have been hurdles to AI adoption in healthcare.
It also noted it supported about 18 million clinical consultations from verified US doctors in December, up from roughly 3 million a month a year earlier. By June, more than half of US physicians were reported to be regular users
The company has attracted major investors including Nvidia, Thrive Capital, GV, Kleiner Perkins and Sequoia Capital. It has raised more than $1 billion over the past year, according to Business Insider.
OpenEvidence was valued at $6 billion in October, when it raised roughly $200 million, according to PitchBook data. The valuation jump underscores intensifying investor enthusiasm for healthcare-focused AI companies that can demonstrate real-world adoption.
Anthropic, OpenEvidence partner to bring medical AI worldwide
Anthropic and OpenEvidence are collaborating to bring AI-powered clinical decision support to physicians in regions without access to the technology, the companies said on Tuesday.
The new initiative is a specialised version, available to healthcare providers free of charge in dozens of low- and middle-income countries where limited access to medical literature, specialist expertise and continuing medical education can impair patient care.
It is currently being rolled out in about 100 countries, including Uganda, Angola, Sudan, Haiti, and Mongolia, according to a list provided by OpenEvidence.
“Access to medical knowledge shouldn’t depend on geography,” OpenEvidence founder Daniel Nadler said.
Anthropic and OpenEvidence did not disclose financial terms of the collaboration.
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