The venture capitalists backing OpenEvidence appear unconcerned by new health information products from OpenAI and Anthropic. On Wednesday, the startup announced it raised an additional $250 million in a Series D funding round, co-led by Thrive Capital and DST. This investment values the company at $12 billion.
That valuation is double what it was in its previous raise last October, which was $200 million at a $6 billion valuation led by GV. The company states it has now raised a total of $700 million from backers including Sequoia, Nvidia, Kleiner Perkins, Blackstone, Bond, Craft Ventures, and Mayo Clinic.
OpenEvidence is an AI-powered medical information platform designed for doctors, similar to what WebMD represented for an earlier internet generation. This positioning places it somewhat in competition with Anthropic’s Claude for Healthcare, which targets patients, payers, and providers, and OpenAI’s ChatGPT health product, which is aimed more at consumers.
The company reports that its free, ad-supported platform served 18 million clinical consultations from verified U.S. healthcare professionals in December alone. This compares to about 3 million searches per month a year ago. OpenEvidence also said it has surpassed $100 million in revenue.