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OpenEvidence, a specialized medical search engine LLM, raised a $75 million Series A.

Why it matters: The Sequoia Capital-led raise values OpenEvidence at $1 billion.

Zoom in: Sequoia is OpenEvidence's first institutional investor. With this fundraise, the Cambridge, Mass.-based company has raised over $100 million.

How it works: Described by Sequoia as "a ChatGPT for doctors," OpenEvidence searches across 35 million peer-reviewed publications to help clinicians find quick answers to medical questions.

Alongside the funding, OpenEvidence announced a content partnership with the New England Journal of Medicine.

The company will train its large language model on all content and multimedia published since 1990 from several NEJM journals.

"There are no hallucinations; if the literature is inconclusive, OpenEvidence simply doesn't respond," Sequoia partner Pat Grady writes. The platform communicates conversationally and offers medical charts and graphs.

The intrigue: OpenEvidence's chatbot is free for doctors, and the company makes money from advertising, CEO Daniel Nadler told CNBC.

"This is a consumer internet company masquerading as a health care business," Grady told CNBC.

Flashback: Nadler built Wall Street-focused AI business Kensho Technologies, which he sold to Standard & Poor's for $700 million in 2018.

Following the sale, Nadler self-funded OpenEvidence in 2021 before raising a friends and family round in 2023.

OpenEvidence raises Series A from Sequoia at $1B valuation

The specialized medical search engine also announced a content partnership with the New England Journal of Medicine.

Illustration of AI elements coming out of a doctor's suit where their head should be. 

OpenEvidence, a specialized medical search engine LLM, <a class="gtmContentClick" data-vars-link-text="raised a $75 million" data-vars-click-url="https://www.cnbc.com/2025/02/19/ai-startup-openevidence-secures-sequoia-funding-1-billion-valuation.html" data-vars-content-id="f61d4849-17aa-420d-a992-c46f44a0e40b" data-vars-headline="OpenEvidence raises Series A from Sequoia at $1B valuation" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2025/02/19/ai-startup-openevidence-secures-sequoia-funding-1-billion-valuation.html" target="_blank">raised a $75 million</a> Series A.Why it matters: The Sequoia Capital-led raise values OpenEvidence at $1 billion.

OpenEvidence raises Series A from Sequoia at $1B valuation

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