OpenEvidence Stock for Accredited Investors

AI / Machine Learning
By UpMarket Research  |  Last updated: September 2026
CEO Daniel Nadler Founded 2021 HQ Cambridge, US

OpenEvidence is an AI-powered clinical decision support company founded in 2021 by Daniel Nadler in Cambridge, Massachusetts. The platform provides doctors with an AI search engine for medical literature, monetized through pharmaceutical advertising at $70-150 CPM rather than per-seat SaaS pricing. In January 2026 it raised $250 million in a Series D at a $12 billion post-money valuation, co-led by Thrive Capital and DST Global (Reuters).

Access to pre-IPO shares is available to accredited investors through UpMarket.

Latest Price
$12B
Series D, 01/21/26, Reuters and BusinessWire
UpMarket Estimate
$14B
Based on UpMarket valuation model

How to Invest in OpenEvidence Through UpMarket

OpenEvidence shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.

Step 01

Verify accredited investor status

Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.

Step 02

Create an UpMarket account

Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.

Step 03

Review available OpenEvidence offerings

Full offering memoranda and risk disclosures provided before any commitment is required.

Step 04

Complete subscription documents

Review and sign subscription agreement. All documents handled digitally through the platform.

Step 05

Fund your investment

Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.

Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.

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OpenEvidence in the News

OpenEvidence Revenue and Growth

Annual revenue
2025 Revenue
$150M
YoY Growth
+1803%

Why Investors Are Watching OpenEvidence

Growth Signal

Fastest-growing US clinical AI platform at $3.5B valuation

OpenEvidence raised $210M at a $3.5B valuation, positioning it as the fastest-growing application for physicians in history. This trajectory signals strong product-market fit and rapid clinician adoption across US health systems.

Competitive Moat

Evidence-locked, clinician-only AI with NEJM content partnership

OpenEvidence restricts access to verified clinicians and draws exclusively from trusted peer-reviewed evidence and major guidelines, including a content partnership with the New England Journal of Medicine. This curated, high-integrity corpus plus workflow-specific design creates a defensible moat versus general-purpose AI tools.

Market Opportunity

Rising demand in fast-expanding clinical AI and CDS market

Healthcare AI and clinical decision support are rapidly expanding as clinicians seek tools to interpret complex data, surface diagnoses, and align care with evolving evidence. OpenEvidence's positioning as a widely used AI-enabled medical search platform for US doctors targets a large and growing addressable market.

Interested in OpenEvidence stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.

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OpenEvidence Stock FAQ

No. As of March 2026, OpenEvidence is a private company and does not trade on any public stock exchange. Accredited investors can access OpenEvidence shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments. Series D, 01/21/26, Reuters and BusinessWire

OpenEvidence does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Series D, 01/21/26, Reuters and BusinessWire Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.

Yes. Accredited investors can indicate interest in OpenEvidence shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.

Pre-IPO investments carry significant risks. OpenEvidence shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.

In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.

There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.

The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.

UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.

OpenEvidence builds AI clinical decision support for doctors and was valued at $12 billion in its January 2026 Series D. Accredited investors can request OpenEvidence access through UpMarket.

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