OpenEvidence raises $75M to become the ChatGPT for doctors - SiliconANGLE
Feb 20, 2025 - siliconangle.com
OpenEvidence, a healthcare-focused chatbot startup, has raised $75 million from Sequoia Capital, valuing the company at over $1 billion. Founded by Daniel Nadler, who previously sold Kensho Technologies to Standard & Poor’s for $700 million, OpenEvidence aims to assist doctors in making better patient care decisions with its generative AI chatbot. The tool, already used by about a quarter of U.S. doctors, is trained exclusively on peer-reviewed medical journals, ensuring high accuracy and avoiding AI "hallucinations." The startup is free to use, generating revenue through advertising, and has grown rapidly through word-of-mouth among doctors.
Sequoia partner Pat Grady likens OpenEvidence's adoption to that of a consumer internet company, highlighting its rapid spread among healthcare professionals. Nadler emphasizes the potential benefits of AI in healthcare, particularly in addressing the looming shortage of physicians. With the new funding, OpenEvidence plans to enhance its chatbot's capabilities and establish partnerships with more medical publications, building on its existing collaboration with the New England Journal of Medicine.
Key takeaways:
OpenEvidence has raised $75 million from Sequoia Capital, valuing the company at over $1 billion.
The startup has developed a generative AI chatbot for doctors, trained exclusively on peer-reviewed medical journals to ensure high accuracy.
The chatbot is free to use, with revenue generated through advertising, and has spread rapidly among doctors through word-of-mouth.
OpenEvidence plans to use the new funding to enhance its chatbot's capabilities and form partnerships with other medical publications.
