OpenEvidence, an AI-powered platform founded by Daniel Nadler, has raised $210 million at a $3.5 billion valuation to help doctors manage the overwhelming flood of medical research. The software scans millions of peer-reviewed studies and delivers precise, citation-backed results to physicians in real time—essentially acting as a medical search engine. With more than 430,000 U.S. doctors already using it, OpenEvidence is being compared to Google in its transformative role. The platform is free for doctors and monetized via ads, a rare model in healthtech. Nadler’s vision: to ease physician burnout and enhance patient care in a system burdened by complexity and limited time.
Key Points
Information Overload for Doctors: A new medical paper is published every 30 seconds, making it nearly impossible for physicians to stay current.
AI to the Rescue: OpenEvidence uses proprietary algorithms to search top-tier journals and provide reliable, quick answers to clinical questions—with full citations.
Rapid Growth: Since its 2022 launch, the platform has signed up 40% of U.S. doctors (430,000+), with 65,000 more joining each month.
Revenue Model: The tool is free for doctors, funded through advertising—mostly from pharmaceutical companies. Revenue is currently $50 million annualized.
Investment Surge: The latest $210 million funding round was led by GV (Google Ventures) and Kleiner Perkins, bringing its valuation to $3.5 billion.
Deep Tech Expansion: The newly launched DeepConsult feature uses reasoning models to connect complex medical studies and simulate a team of expert researchers.
Clinical Integration: OpenEvidence is used in 8.5 million consultations monthly. It doesn’t require FDA approval because it’s not diagnostic.
Real-World Use: Doctors are using it mid-flight and during rounds to make life-saving decisions and write prior authorizations on the fly.
Founders’ Mission: Personal experiences with medical errors and complex treatments inspired Nadler and cofounder Zack Ziegler to focus AI on healthcare.
Key Quotes
“There is this enormous firehose of information they need to stay on top of, and the human brain is limited.” — Daniel Nadler, cofounder and CEO, OpenEvidence
“I think OpenEvidence looks like it’s going to be for healthcare what Google was for the Internet.” — John Doerr, chairman, Kleiner Perkins
“I don’t think a day goes by when I don’t use it.” — Dr. Susan Wolver, internist
“AI is garbage in, garbage out, gold in, gold out.” — Daniel Nadler
“The idea that it offered to tell me the limitations of my own work and I agreed with it—I thought was kind of great.” — Dr. Stephen Krieger, Mount Sinai
“Getting the weekly and monthly updates gives me enormous confidence that Daniel continues to knock it out of the park.” — Jim Breyer, venture capitalist
“You can squint to a world where OpenEvidence becomes the tool through which all that diagnosis is happening.” — Thomas Laffont, Coatue
Implications
A New Healthcare Infrastructure Layer: OpenEvidence could become the central platform through which AI-powered tools, lab results, and medical device data converge—transforming clinical decision-making globally.
Physician Burnout Relief: By handling the literature overload, the platform may help reduce burnout and improve diagnostic accuracy, especially amid growing doctor shortages.
Advertising’s Return to Healthtech: If OpenEvidence proves the ad model works in medicine, it could open the floodgates for similar monetization strategies in digital health.
AI’s Clinical Legitimacy Grows: By citing only peer-reviewed sources and avoiding AI hallucinations, OpenEvidence is setting a high bar for trustworthy medical AI—potentially reshaping how AI is perceived in medicine.
Global Reach Ahead: Nadler’s ambition to expand internationally could help democratize access to expert-level insights in countries with limited healthcare infrastructure.
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