Major players have entered the field of medical artificial intelligence. Recently, the startup company OpenEvidence, which develops AI software specifically for doctors, announced a new round of funding worth $250 million. This round was led by Thrive Capital and DST Global, pushing the company's valuation to $12 billion. Notably, this valuation has grown more than ten times since its first round of funding in February last year.
OpenEvidence provides the medical industry with a free research tool similar to ChatGPT. The platform assists doctors in developing patient diagnosis plans, identifying treatment options, and generating comparative analysis by retrieving authoritative medical journals. According to founder Daniel Nadler, doctors would need to spend nine hours a day reading top journals and the latest guidelines to keep their knowledge updated, while this platform greatly shortens the time needed to access information and avoids doctors missing key findings.
Currently, the platform has received high recognition among U.S. physicians, with a usage rate exceeding 40%. Last year, OpenEvidence helped doctors treat over 100 million patients. In addition to clinical Q&A, its application scope has expanded into the field of medical education, generating exam questions for medical schools and providing learning assistant features with source citations for medical students.
Although OpenAI recently launched ChatGPT Health, OpenEvidence has already gained an advantage through its deep clinical data accumulation and specialized model architecture. The company stated that the new funds will be mainly used for R&D investment and purchasing computing infrastructure. As competition in the AI healthcare market intensifies, OpenEvidence is further solidifying its industry leadership by deepening cooperation with medical associations and expanding new features such as medical note tools.