Miami-based clinical AI startup OpenEvidence has reportedly closed a fresh $250 million round at a $15 billion valuation, Axios reported on September 25, 2026, citing sources familiar with the deal. Andreessen Horowitz led the round with participation from undisclosed hospital systems - a signal that provider organizations are moving to lock in equity in the tools their physicians increasingly rely on.
25% valuation bump in eight months
The new financing lifts OpenEvidence's price roughly 25% above the $12 billion post-money it printed in January, when Thrive Capital and DST Global co-led a same-sized $250M Series D that also brought in Sequoia, GV, Kleiner Perkins and Coatue. Total capital raised since the 2021 founding now approaches $1 billion. Founder and CEO Daniel Nadler has said the platform is used daily by more than 40% of U.S. physicians across 10,000+ hospitals, with roughly $100 million in annualized revenue as of early 2026.
Hospital systems buy in as big models circle
OpenEvidence's product - marketed as a "brain extender" that returns citation-linked answers from primary medical literature - competes against general-purpose foundation models being tuned for clinical use by rivals like Oracle Health and Microsoft/Nuance. The pitch to hospital investors is that a purpose-built clinical search that is free to the physician (and monetised via advertising and enterprise contracts) is a defensible layer even as horizontal AI expands into healthcare.
What the money is for
Sources close to the round say OpenEvidence will spend on international expansion, deepening integrations with electronic health records, and a broader push into specialty-specific reasoning agents. The company is also expected to hire heavily in Cambridge, Massachusetts, where much of its research team sits, and to keep expanding Miami headquarters staffing to support enterprise sales.
Reporting based on coverage from Axios Pro Health Tech Deals and prior filings from STAT News, Fierce Healthcare and MobiHealthNews.