OpenEvidence Raises $250M at $15B Valuation for Clinical AI
OpenEvidence has raised a $250 million alternative financing round led by Andreessen Horowitz and Byers Capital at a $15 billion valuation. The clinical AI company had previously reached a $12 billion valuation in a January 2026 Series D and explored a $20 billion round before those talks stalled. Its rapid valuation growth reflects strong investor demand for vertical AI infrastructure in medicine.
OpenEvidence’s latest $250 million round, led by Andreessen Horowitz and Byers Capital, values the clinical AI firm at $15 billion. That is a 25% increase over its January 2026 Series D valuation of $12 billion, though below the $20 billion target reportedly considered in mid-2026.
The September 2026 financing included health system partners and coincided with a broader partnership with Memorial Sloan Kettering Cancer Center. Earlier backing came from Sequoia, Google Ventures, Kleiner Perkins, Thrive, DST Global, Mayo Clinic, and Nvidia, among others. Founders Daniel Nadler and Zachary Ziegler reportedly avoided the $20 billion round partly to limit dilution.
If clinical AI tools like OpenEvidence become more widely deployed, clinicians may gain faster access to synthesized medical evidence, potentially supporting decisions at the point of care. Patients could benefit from more consistent information, though risks around accuracy, bias, and overreliance would need scrutiny. The influx of capital may accelerate hospital partnerships and competition, affecting doctors, health systems, and technology vendors. How these tools are governed and validated could shape whether their societal effect is broadly beneficial.