OpenEvidence, a Massachusetts-based AI healthcare startup, has raised US$75 million in a funding round led by Sequoia Capital, bringing its valuation to US$1 billion.

This marks its first institutional funding since its founding in 2021.

The startup has developed a chatbot to assist physicians at the point of care, with a quarter of US doctors currently using the tool.

Trained exclusively on peer-reviewed medical journals, it does not rely on public internet sources to ensure accuracy.

The newly secured funds will support strategic partnerships and expand adoption in the healthcare sector.

OpenEvidence offers its chatbot for free and generates revenue through advertising.

Founder Daniel Nadler emphasized the startup’s mission to reduce physician burnout and ease healthcare system shortages.

With AI’s growing role in streamlining healthcare, OpenEvidence joins other AI-driven companies securing venture capital to address systemic inefficiencies.