OpenEvidence eyes $200M raise at $20B valuation, up from $12B

What's the deal? OpenEvidence, a US-based AI platform for healthcare professionals, is reportedly seeking to raise $200 million in a round that could value it at $20 billion, according to The Information. The company develops an AI platform that supports clinical decision-making by giving physicians evidence-based medical information.

The numbers: A $20 billion valuation would be a sharp step up from OpenEvidence's reported $12 billion valuation earlier in 2026 and $3.5 billion in July 2025. The reporting says the round is still being explored rather than closed, and the company has not officially confirmed it.

The trajectory: OpenEvidence closed a $200 million Series C at a $6 billion valuation in October 2025, followed roughly three months later by a $250 million Series D that lifted its valuation to $12 billion — part of an estimated $700 million raised over the prior year.

Existing backers: The company's investor base to date reportedly includes Thrive Capital, DST Global, Sequoia, Google Ventures, Nvidia, and Mayo ClinicDealroom has a profile for this one. Try Dealroom →. Participants in the reported new round have not been disclosed.

The signal: The reported fundraising underscores continued investor appetite for AI-driven clinical decision-support tools for physicians.

Read more: Digital Health News · The Information