OpenEvidence has raised a total of $300 million over multiple funding rounds, achieving unicorn status in February 2025. Headquartered in Cambridge, Massachusetts, the company provides an AI-powered medical search platform for healthcare professionals. The platform aggregates, synthesizes, and visualizes clinically relevant evidence, enabling accurate and efficient access to medical information. OpenEvidence supports informed decision-making in clinical practice and improves accessibility to peer-reviewed literature for healthcare professionals.
Keep reading to explore OpenEvidence’s funding history, key investors, and what’s next for this healthcare IT innovator.
What Is OpenEvidence and What Does It Do?
Founded in 2021 and headquartered in Cambridge, Massachusetts, United States, OpenEvidence delivers an AI-powered platform that aggregates, synthesizes, and visualizes clinically relevant evidence for healthcare professionals. Its tools enable physicians and clinicians to access accurate medical information efficiently, supporting informed clinical decisions.
The platform enhances the usability of peer-reviewed medical literature, improves knowledge dissemination, and helps healthcare organizations optimize patient outcomes by streamlining evidence-based decision-making.
How Much Funding Has OpenEvidence Raised?
- Seed Round
- Amount Raised: $20M
- Date: 2021
- Motivation: Initial product development and clinical validation.
- Series A
- Amount Raised: $70M
- Date: February 19, 2025
- Lead Investors: Sequoia Capital
- Motivation: Product scaling and early adoption among healthcare organizations.
- Series B
- Amount Raised: $210M
- Date: July 15, 2025
- Lead Investors: Thrive Capital, Coatue
- Motivation: Platform expansion, AI enhancements, and global adoption.
Total Funding Raised: $300M
Latest Funding Date: July 15, 2025
Key Investors
- Thrive Capital
- Details: Venture capital firm investing in early and growth-stage technology companies.
- Investment Focus Areas: Healthcare IT, AI, and enterprise technology.
- Notable Investments: High-growth technology platforms in healthcare and SaaS.
- Coatue
- Details: Investment firm focused on technology-driven growth-stage companies.
- Investment Focus Areas: AI, healthcare IT, and enterprise software.
- Notable Investments: Innovative startups in healthcare and information technology.
Where Is OpenEvidence’s Headquarters?
OpenEvidence is headquartered in Cambridge, Massachusetts, United States, providing access to top medical and AI talent, strategic healthcare networks, and leading investors.
What’s Next for OpenEvidence?
With unicorn status, OpenEvidence plans to expand its AI-powered medical search platform globally, enhance clinical evidence synthesis, and improve accessibility to peer-reviewed medical literature. The company aims to accelerate adoption across healthcare institutions, optimize clinical decision-making, and strengthen outcomes for healthcare professionals and patients worldwide.
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