OpenEvidence hits $15 billion valuation as AI reshapes how doctors treat patients
The Miami-based medical chatbot raised $250 million in a round co-led by Andreessen Horowitz and Byers Capital
There’s a decent chance your doctor asked a chatbot about you this month. OpenEvidence, the AI search platform built for physicians, is now valued at $15 billion.
The Miami-based startup reached that number in September 2026 after closing a $250 million funding round. Andreessen Horowitz and Byers Capital co-led the deal. For a company founded in 2022, that is a fast climb.
A valuation that keeps getting revised upward
The $15 billion mark is the latest step in a steep staircase. OpenEvidence was valued at $6 billion in October 2025.
Earlier in 2026, that figure had already risen to $12 billion. Then came the September round, adding another $3 billion in a matter of months.
The money has flowed in quickly too. OpenEvidence has pulled in over $1 billion in funding over 18 months. Backers include Sequoia, Thrive Capital, and Nvidia.
Who is actually using it
The usage numbers explain much of the investor enthusiasm. Nearly two-thirds of the roughly 1 million US physicians use OpenEvidence to help guide diagnoses and treatment decisions.
Counting more broadly, over 1.12 million verified US clinicians were on the platform as of September 2026.
The platform handled 42 million prompts in October 2026, the most recent month tracked.
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Adoption spread fast at the institutional level as well. By mid-2025, OpenEvidence was seeing daily use across more than 10,000 healthcare facilities.
It has also worked with major names in American medicine. Those include Memorial Sloan Kettering Cancer Center and Johns Hopkins Medicine.
The problem it was built to solve
Daniel Nadler founded OpenEvidence in 2022 with a specific headache in mind: information overload. Medical research piles up faster than any working clinician can read it.
The pitch is a generative AI tool restricted to verified medical professionals. The idea is that doctors get answers grounded in published evidence rather than the open internet.
The company is not stopping at search. It is expanding into specialized AI models built for clinical use and into early-stage oncology drug development.
How a free tool for doctors makes money
OpenEvidence leans on advertising and partnerships with pharmaceutical companies to generate revenue.
The company is projected to bring in between $400 million and $500 million in ad revenue by the end of 2026.
The pharma angle makes commercial sense. Drug makers have long spent heavily to reach doctors, and OpenEvidence sits right where prescribing decisions get researched.
Ads placed in a tool doctors use to decide on treatment raise obvious questions about influence, even if the clinical answers themselves stay evidence-based.