OpenEvidence didn’t need a new product to triple its ambitions. It needed eight months.
The Miami-based AI search engine for physicians, OpenEvidence, just raised $250 million from hospital systems and Andreessen Horowitz. That values the company at $15 billion. In January, the same company was valued at $12 billion.
Doctors Are Already the Product’s Proof
OpenEvidence built what it calls “the fastest-growing application for physicians in history.” More than two-thirds of U.S. doctors now rely on it for diagnostic and treatment guidance, according to CNBC reporting cited by Business Insider.
That adoption number is doing the heavy lifting in this valuation. Founded in 2022, OpenEvidence has raised more than $1 billion in the past year alone. Investors include Thrive Capital, DST, GV, Kleiner Perkins and Sequoia Capital. Anthropic announced a partnership with the company this week, and OpenEvidence already integrates with both Google’s and Microsoft’s AI tools.
Why Big Tech Might Want to Buy It, Not Just Fund It
OpenEvidence could be open to a sale, according to a person familiar with the matter. It isn’t confirmed whether any acquirer has approached the company, and OpenEvidence may prefer to stay independent.
The logic for a buyer is straightforward. OpenAI and Anthropic are both pushing harder into healthcare. Both are building tools of their own now, not just licensing models to others. Acquiring OpenEvidence would hand a buyer working relationships with doctors and real experience handling sensitive medical data. It’s a foothold every AI company wants.
That would fit a pattern already forming elsewhere in AI. Nvidia agreed to buy Hugging Face for nearly $13 billion. Stripe is finalizing an $8 billion purchase of OpenRouter. Big AI companies are increasingly buying their way into markets rather than building from scratch.
Miami’s Stake in the Outcome
OpenEvidence is one of the largest AI companies to call Miami home. Its valuation keeps climbing even as rising anti-AI sentiment slows data center expansion elsewhere.
Access to computing power could grow scarcer if that trend continues, according to a person familiar with OpenEvidence’s thinking. That’s a real constraint, even for a company this well funded.
Miami is still building its case as more than a fintech and crypto town. A $15 billion Miami-based company is a hard number to argue with.
Whatever OpenEvidence decides about a sale, it’s already proven something. The market it built didn’t need Silicon Valley’s permission to get this big.