Google Ventures-Backed OpenEvidence Raises $210 Million for AI Medical Search Platform

OpenEvidence raised $210 million in a Series B funding round to expand the content partnerships that enhance its medical search and artificial intelligence application for physicians.

The company’s clinical decision support platform helps frontline healthcare providers access, evaluate and apply medical knowledge, according to a Tuesday (July 15) press release.

The platform is used by physicians, nurses and other medical professionals at more than 10,000 hospitals and medical centers across the United States, the release said.

To enhance this resource, OpenEvidence has content partnerships with the American Medical Association and The New England Journal of Medicine, allowing it to use their content to inform the answers provided by its platform, per the release.

OpenEvidence founder Daniel Nadler said in the release that the AI-powered platform is “bridging the gap” at a time when healthcare providers are dealing with clinician burnout, a shortage of physicians and an annual volume of published medical research that doubles every five years.

“OpenEvidence’s commitment to building an AI copilot for clinicians is rooted in the belief that AI will be a force for good in the world, ultimately benefiting both healthcare professionals and the patients they serve,” Nadler said.

The company also announced Tuesday that it released an AI agent called DeepConsult that conducts medical research for physicians, analyzing and cross-referencing hundreds of peer-reviewed medical studies.

Sangeen Zeb, general partner at Google Ventures, which co-led the funding round, said in the release that physicians are “drowning in information but starving for timely insights. OpenEvidence changes that equation, bringing clinicians into the modern era.”

Mamoon Hamid, managing partner at Kleiner Perkins, which co-led the round, said in the release that “the fact that 40% of all physicians in the United States log in daily to OpenEvidence’s software is a staggering signal of both trust and utility.”

PYMNTS reported in October that AI healthcare companies were commanding valuations up to five times higher than their non-AI counterparts and attracting 38% of venture capital healthcare investments.

In another, separate development in the space, Microsoft AI said June 30 that the Microsoft AI Diagnostic Orchestrator (MAI-DxO) correctly diagnosed 85% of diagnostically complex cases published by The New England Journal of Medicine, compared to a mean accuracy of 20% among the practicing physicians the company included in a study.

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