OpenEvidence revenue, valuation & funding | Sacra

OpenEvidence

AI copilot for doctors to assist in making critical decisions at the point of care.

Financial Overview

Revenue: $150.00M (2025)
Valuation: $12.00B (2026)
Funding: $700.00M (2026)

Headquarters: Cambridge, United States
CEO: Daniel Nadler
Website: openevidence.com

Milestones

Founding Year: 2021

Revenue Details

OpenEvidence Data Summary | Sacra

Annualized Revenue & Growth
Current Revenue: $150.0M
YoY Growth Rate: ↑ 1803.3%
Updated: May 25, 2026

Sacra estimates OpenEvidence hit $150 million in annualized revenue in 2025, up 1,803% from $7.9 million in 2024, with reported 90% gross margins.

Clinical consultation volume reached approximately 20 million per month in January 2026, up from approximately 18 million in December 2025 and approximately 3 million per month a year earlier.
On March 10, 2026, clinicians conducted 1 million clinical consultations in a single 24-hour period—a new single-day record for the platform.
The platform monetizes through pharmaceutical and medical device advertisements, achieving CPMs that range from $70 to $1,000+, translating to approximately $124 in average revenue per user (ARPU).

Business Model

OpenEvidence operates a B2B2C freemium model, providing free access to verified U.S. physicians while monetizing through advertising and enterprise subscriptions. The company's value delivery mechanism combines a specialized medical AI platform with exclusive content licensing agreements, creating a differentiated clinical decision support tool.

Revenue streams include targeted advertising to pharmaceutical companies, premium enterprise features for health systems, and API licensing for clinical decision support integration.

Product Overview

OpenEvidence functions as a search engine and chatbot trained on open-sourced medical papers and textbooks, designed to answer complex clinical questions. The platform features a unique workflow starting with physician verification to ensure only licensed healthcare providers can access it. The system integrates clinical calculators and employs a proprietary large language model tailored to medical texts.

The platform is HIPAA compliant, allowing covered entities to input PHI under a Business Associate Agreement. In addition, it includes tools for generating prior authorization letters and other clinical documentation to support workflow tasks.

Recent deployments in major health systems, such as Sutter Health and Cedars-Sinai, have integrated OpenEvidence into EHR systems to enhance clinical workflows.

Competition

EHR Gatekeepers: Epic and Oracle-Cerner are competitors, offering AI capabilities embedded within their EHR systems.

Content Incumbents: Established reference tools like UpToDate and DynaMed are upgrading to include AI-powered features.

Pure-play AI Copilots: Other startups are focusing on specific aspects of clinical decision support, but face competition in the crowded market for clinical AI.

Risks

Regulatory Liability: As algorithmic recommendations become more prevalent, liability concerns may arise.
EHR Integration Dependence: Revenue reliance on successful integration with EHRs could hinder growth if competition increases.
Content Licensing Costs: Rising prices from exclusive content licensing agreements could pressure margins.