OpenEvidence, a specialized AI platform often described as a “ChatGPT for doctors,” has announced a massive $200 million funding round, pushing its valuation to an impressive $6 billion. The round underscores the intense investor appetite for vertical AI solutions that cater to specific, high-value industries.
Rapid Valuation Growth Signals AI Boom
The new capital injection comes just three months after OpenEvidence raised $210 million at a $3.5 billion valuation, nearly doubling its worth in a single quarter. This accelerated growth highlights the significant momentum behind AI companies building targeted applications. The round was led by Google Ventures and saw participation from a roster of top-tier firms including Sequoia Capital, Kleiner Perkins, Blackstone, Thrive Capital, Coatue Management, Bond, and Craft.
How The Platform Works
Trained on an extensive library of peer-reviewed medical journals such as JAMA and the New England Journal of Medicine, the OpenEvidence platform allows medical professionals to query existing medical knowledge to support patient treatment. The tool is offered for free to verified doctors and nurses and is supported by an advertising-based model. Since its founding in 2022, the platform has seen remarkable adoption, with its monthly clinical consultations nearly doubling to 15 million since July.
The MENA HealthTech Angle
While OpenEvidence is a global player, its success offers a blueprint for the burgeoning HealthTech sector in the MENA region. Countries like the UAE and Saudi Arabia are heavily investing in digital health infrastructure, creating fertile ground for specialized AI solutions. The rapid scaling of OpenEvidence demonstrates a clear market demand for tools that enhance clinical decision-making, a need that is universal. MENA-based startups and VCs will be watching closely, as this signals a significant opportunity to develop and fund localized AI platforms tailored to regional healthcare challenges, languages, and regulatory landscapes.
About OpenEvidence
Founded in 2022, OpenEvidence is an AI-powered platform designed to provide medical professionals with quick, evidence-based answers to clinical questions. By leveraging large language models trained on established medical literature, the company aims to support healthcare providers in delivering optimal patient care.
Source: TechCrunch
