OPENEVIDENCE

Daniel Nadler is not a first-timer. He founded Kensho, an AI analytics company, and sold it to S&P Global in 2018 for roughly $550 million.

For OpenEvidence he went after a bigger problem, the flood of medical research no human doctor can keep up with. Millions of papers get published, and a busy clinician cannot read them all.

Nadler built an AI trained on peer-reviewed literature that answers a doctor's question with a real, cited answer. The company got its start with help from the Mayo Clinic Platform and was based in Cambridge, Massachusetts before moving to Miami.

OpenEvidence is free for verified doctors. That is the trick.

Any clinician can ask it a question and get an answer backed by medical journals in seconds. Because the users are all doctors, OpenEvidence makes money the way medical journals always have, through advertising aimed at physicians.

Pharma companies and others pay to reach a captive audience of prescribers. The doctors get a free tool.

OpenEvidence gets a business that scales as more of them sign on.

The core product is the OpenEvidence platform. A doctor types a clinical question, like how to manage a specific drug interaction, and gets a clear answer with links to the studies behind it.

It is built to sit inside a doctor's workflow, fast enough to use between patients. The whole point is trustworthy, cited answers rather than the confident guesses a general chatbot might give.

The growth has been wild. OpenEvidence made itself free and easy, then let word spread through hospitals and doctor group chats.

By 2025 the company said it was the fastest-growing application for physicians in history, used by a large share of US doctors. The other smart move was credibility.

It signed content partnerships with the New England Journal of Medicine, the Journal of the American Medical Association and all 11 JAMA specialty journals, plus the American Medical Association. When your answers cite the most trusted names in medicine, doctors trust the tool.

The obvious risk is accuracy. An AI giving medical answers cannot be confidently wrong, because a doctor might act on it.

OpenEvidence leans on citations to keep itself honest, but the pressure never lets up. There is also the valuation.

Going from $1 billion to $12 billion in about a year is dizzying, and it bakes in enormous expectations. Big players like OpenAI and Google are circling healthcare too.

OpenEvidence has to keep its lead while proving the business is worth the price tag investors put on it.

The investor list reads like a who's who. Sequoia Capital and Kleiner Perkins backed the early rounds.

Google's venture arm GV led the rounds that pushed the valuation to $3.5 billion and then $6 billion in 2025. By January 2026 Thrive Capital and DST Global led a $250 million round at a $12 billion valuation.

Blackstone, Coatue, Bond, and Craft also piled in. That kind of backing tells you the smart money thinks medical AI is a massive market.