AI applications & software · Industry Index 9 (rank #136) · $12.0B — Series D, 2026-01editorial estimate
ⓘ Data freshness
price: no data index: as of 2026-10-29 fundamentals: no data No structured SEC filings
Deep funding / news coverage runs mega-caps first — OpenEvidence is in the graph, but detailed data isn't ingested yet.
Clinical answer engine for verified clinicians, gated by NPI or hospital-email verification. Runs a vertical LLM trained exclusively on licensed medical literature — NEJM, JAMA, Wiley, Cochrane and specialty societies — with deterministic citation linking. Used daily by 40%+ of U.S. physicians.
Industry exposure 1.0 (Pure-play AI application: a vertical medical LLM answering clinical questions is the entire product.)
Signal
signal: no data
Not scored (private). OpenEvidence is a private company, so its directional signal is not published.
Relationship network
Loading relationship graph…
Oracle — competitor
Key relationships
Oracle — competitor · Oracle-Cerner is named as one of the EHR incumbents OpenEvidence competes against for the clinician's attention at the point of care. source: sacra.com
Unusual options activity needs a US-listed instrument; this company has none.
Not scored (private)
We don’t publish a directional call for private companies.
No moat profile yet. The durable competitive advantage — moat, leadership, and pricing power — is curated for flagship names first; OpenEvidence isn't covered yet. Nothing here is fabricated in its absence.
Signal contribution
The moat prior — a subjective, non-backtested editorial input — only nudges the long (~6-month) horizon, and it isn't scoring OpenEvidence yet (directional scores are withheld for private companies). Nothing here is fabricated in its absence.
2 owns · 2 partial · 1 unknown of 5 — a pattern, not a score
Owns the clinician relationship outright and trains its own vertical model, but rents the corpus that model is trained on and does not own the surface where care is recorded. The interesting asymmetry in the set: enormous reach on top of a licensed foundation.
Reaches the clinician directly and gates access itself — verification by NPI scanning or hospital email — with 40%+ of U.S. physicians using it daily and 65,000+ new verified registrations a month. No health-system contract stands between the product and its user. source: sacra.com
The corpus is LICENSED, not owned: NEJM and JAMA journals, Wiley biomedical literature, Cochrane systematic reviews and specialty-society content, with no exclusivity terms specified. A renewal it does not control sits under the whole product. source: sacra.com
Looked for a published benchmark or evaluation methodology and found none; deterministic citation linking is a retrieval mechanism that makes answers traceable, not a standard for judging whether they are clinically right. source: sacra.com
Consulted during care rather than being where care is recorded — the report names Epic and Oracle-Cerner as the EHR incumbents it sits against, so the clinical system of record remains someone else's surface. source: sacra.com
A vertical LLM trained exclusively on licensed medical texts, deliberately avoiding public-internet contamination, rather than a wrapper over a general frontier model. source: sacra.com
OpenEvidence is used by more than 40% of physicians in the United States, and founder Daniel Nadler describes it as the most widely used AI platform among American doctors — a point-of-care tool for high-stakes clinical decisions, not an occasional assist. The company says it has gathered hundreds of millions of real-world clinical consultations from verified physicians, and passed $100 million in annualized revenue in 2025 on advertising rather than subscriptions, with 95% of new users hearing about it from another physician. Depth is concentrated in one clinician type in one country: roughly six in ten U.S. physicians sit outside that base, and Nadler points to small practices without IT departments or software budgets as where most American care happens. source: cnbc.com
A paired axis, not a sixth band: it is never counted in the pattern above and the two are never averaged into one score.
revenue: Annualised revenue for 2025, up from $7.9M in 2024; ~$700M raised across three rounds at a $12B valuation in the January 2026 Series D. ($150M annualised) 2026-01-01source: sacra.com
usage: Clinical consultations run monthly by verified U.S. clinicians, with 1 million in a single 24-hour period on 2026-03-10. (20M consultations/month) 2026-01-01source: sacra.com
Scouted against the condition: a company that simultaneously owns the customer relationship, the data, the evals, the workflow, and a domain-specific model. Weightless — this profile never affects a signal, and it is not a forecast of returns.
No structured SEC filings. OpenEvidence does not file XBRL with the SEC; see funding rounds under Investors.
Funding rounds
No recorded funding rounds.
Headline valuation: $12.0B — Series D, 2026-01 editorial estimate
