Funding round
OpenEvidence Series A
OpenEvidence, which works in medical information search engine development in Miami, raised $75M in a Series A round announced on 1 Feb 2025, led by Sequoia Capital, at a $1.00B post-money valuation. 1 firm took part, 1 of them already investors. It is OpenEvidence's first venture round on record.
$75M
Amount raised
$1.00B
Post-money valuation
$925M pre-money
1
Investors
1 lead
7.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced OpenEvidence at $1.00B after the new money. The $75M bought investors about 7.5% of the company. It is OpenEvidence's first venture round on record, 7 years after it was founded in 2018. It is 10% of the $735M OpenEvidence has raised in the venture rounds on record. OpenEvidence raised again 5 months later: a Series B round of $210M in Jul 2025, at $3.50B post-money.
OpenEvidence's funding rounds
OpenEvidence has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Sequoia Capital led the round. Sequoia Capital had backed OpenEvidence before.
Lead investor
- Sequoia Capital backs 589 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,511 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 6.0 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 13 Feb 2025 | $105M | not disclosed | General Catalyst |
| Tech Companies | 27 Feb 2025 | $50M | not disclosed | GV and Menlo Ventures |
| Tech Companies | 6 Feb 2025 | $31M | not disclosed | Sequoia Capital |
| Tech Companies | 17 Feb 2025 | $30M | not disclosed | Brightmind Partners |
| Tech Companies | 12 Feb 2025 | $28M | not disclosed | Two Bear Capital |
| Tech Companies | 28 Feb 2025 | $27M | not disclosed | Valor Capital Group and QED Investors |
| Tech Companies | 10 Feb 2025 | $22M | not disclosed | PeakSpan Capital |
| Tech Companies | 26 Feb 2025 | $22M | $100M | Spark Capital and Footwork |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did OpenEvidence raise in its Series A round?
OpenEvidence raised $75M in its Series A round, announced in Feb 2025.
Who led OpenEvidence's Series A round?
Sequoia Capital led it.
What was OpenEvidence's valuation at the Series A round?
$1.00B post-money ($925M pre-money).
How does it compare with other Series A rounds in Tech Companies?
1,511 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 6.0 times the median.
Did OpenEvidence raise again after this round?
Yes: a Series B round in Jul 2025 of $210M at $3.50B post-money.