OpenEvidence Achieves $1 Billion Valuation in Sequoia-led Round and Announces Content Partnership with the New England Journal of Medicine

CAMBRIDGE, Mass., Feb. 19, 2025 /PRNewswire/ -- OpenEvidence, the fastest-growing platform for doctors in history, has closed a Series A with Sequoia Capital at a $1 billion valuation. This milestone marks OpenEvidence's first institutional investment and brings the company's total capital raised to over $100 million.

OpenEvidence is on a mission to organize and expand the world's collective medical knowledge, offering a groundbreaking AI copilot for doctors that assists them in making critical decisions at the point of care. This innovative platform is now a trusted resource for hundreds of thousands of verified doctors at over 10,000 care centers across the United States. Built from the ground up specifically for medical professionals, OpenEvidence is trained on specialized content, including the New England Journal of Medicine, through strategic partnerships. As a professional tool available exclusively to healthcare providers, OpenEvidence is free for verified doctors in the United States.

"As we come upon our platform's two-year anniversary later this spring, OpenEvidence is trusted and used daily by hundreds of thousands of doctors. But we're just getting started," said Daniel Nadler, Founder of OpenEvidence. "Our Series A with Sequoia will enable OpenEvidence to continue building the most trusted AI platform for doctors and other medical professionals in the world."

OpenEvidence, whose team is largely made-up of AI scientists from PhD programs at Harvard and MIT, will use the funding to train its next generation of medical domain-specialized Large Language Models (LLMs) and continue to assemble and grow the best team of scientists working at the intersection of LLMs and medicine. 

"As growing caseloads and patient demands make it near impossible for doctors to stay current and deliver the best care, OpenEvidence is the solution physicians have been yearning for," said Pat Grady, partner at Sequoia Capital. "The scale of OpenEvidence's life-saving impact is massive, positioning it to become one of the most important companies of the next decade. We're proud to partner with Daniel and the OpenEvidence team as they transform healthcare delivery for both physicians and patients."

OpenEvidence will also use the funding to forge strategic content partnerships, as well as to build and grow its own library of advanced medical knowledge through direct collaboration with world-leading medical researchers in oncology, neuroscience, cardiology, and other specialties.

Accordingly, OpenEvidence is today also announcing that it has signed a multi-year content agreement with NEJM Group, publisher of the New England Journal of Medicine (NEJM). Under this agreement, all published content and multimedia from 1990 forward from NEJM, NEJM Evidence, NEJM AI, NEJM Catalyst, and NEJM Journal Watch will be provided to OpenEvidence to inform answers delivered on the OpenEvidence platform.

"In serving clinicians, it is crucial that the trusted evidence we publish informs clinical decisions," said David Sampson, Vice President and Chief Publishing Officer of NEJM Group, publisher of the New England Journal of Medicine. "OpenEvidence is emerging as a preferred resource for many clinicians. We are delighted to support OpenEvidence as a content partner, and we look forward to further collaborating with OpenEvidence to improve the delivery of clinical knowledge."

About OpenEvidence

OpenEvidence's mission is to organize and expand the world's collective medical knowledge. OpenEvidence's first product, its eponymous copilot for doctors that helps them make high stakes decisions at the point of care, is now used by hundreds of thousands of logged-in, verified doctors at 10,000+ care centers across the United States. Launched in 2023, OpenEvidence became the fastest platform in the history of the medical industry to surpass 100,000 verified doctor users in the United States. As of this writing, 40,000 verified U.S. doctors and other active healthcare providers are registering for OpenEvidence each month (there are only about one million active physicians in the United States). Aside from the iPhone, there has never been a piece of technology adopted by doctors as quickly as OpenEvidence. Doctors leverage OpenEvidence multiple times a day on average and more than 75% of doctors use OpenEvidence during office hours for clinical decision support at the point of care, using it to inform patient care plans by querying how treatments affect patients with specific comorbidities or assessing drug efficacy. It also assists in addressing common issues by providing information on drug safety profiles, disease causes, the risks of discontinuing medications and more. With medical knowledge doubling every 73 days, OpenEvidence empowers doctors to stay current with this rapid pace of change, ensuring they deliver informed patient care. OpenEvidence is built from the ground up specifically for doctors, and is trained on specialized medical content, such as the New England Journal of Medicine (through strategic partnerships). OpenEvidence is free for verified doctors in the United States but is a professional tool available only to professional healthcare providers.

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