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OpenEvidence Reaches $12 Billion Valuation After Major Series D Funding Round

OpenEvidence Secures $250 Million in Fresh Investment OpenEvidence, a rapidly growing AI-driven healthcare technology startup, has reached a massive $12 billion valuation following a new $250 million Series D funding round. The investment was co-led by prominent venture capital firms Thrive Capital and DST, signaling strong investor confidence in the company’s future despite rising competition in AI-powered health information platforms. This latest funding round marks a significant milestone for the U.S.-based startup and further strengthens its position in the evolving artificial intelligence healthcare market. Valuation Doubles in Just a Few Months The new valuation represents a 100% increase compared to OpenEvidence’s previous funding round in October, when it raised $200 million at a $6 billion valuation, led by Google Ventures (GV). In less than a year, the company has demonstrated exceptional growth, both in user adoption and revenue generation. According to company disclosures, OpenEvidence has now raised a total of $700 million across multiple funding rounds, placing it among the most well-funded AI health startups in the United States. Backed by Leading Investors and Institutions OpenEvidence’s investor list reads like a who’s who of Silicon Valley and healthcare innovation. Major backers include: The continued support from top venture capital firms and healthcare institutions suggests that investors are not overly concerned about competition from emerging AI health products developed by companies like OpenAI and Anthropic. AI-Powered Medical Platform Built for Doctors OpenEvidence is an AI-powered medical information platform designed specifically for licensed healthcare professionals. Often compared to WebMD for doctors, the platform delivers evidence-based clinical insights, medical literature summaries, and real-time decision support. Unlike consumer-focused AI health tools, OpenEvidence is tailored to clinical use, helping physicians make faster and more informed medical decisions. This differentiates it from ChatGPT’s health features, which primarily target everyday consumers. Competitive Landscape: OpenEvidence vs AI Health Rivals While OpenEvidence operates in the same broader space as AI health solutions from OpenAI and Anthropic, its target audience sets it apart. Anthropic’s Claude for Healthcare serves patients, providers, and payers, whereas OpenEvidence remains deeply focused on verified U.S. medical professionals. This specialized approach appears to be paying off, as the company continues to grow rapidly despite increased competition in the healthcare artificial intelligence sector. Massive Growth in Clinical Usage OpenEvidence revealed impressive usage metrics, highlighting its fast-growing adoption among medical professionals. In December alone, the platform supported 18 million clinical consultations conducted by verified healthcare providers in the United States. This marks a dramatic increase compared to approximately 3 million monthly searches just one year ago, showcasing the platform’s accelerating momentum and trust within the medical community. Revenue Crosses $100 Million Milestone In addition to user growth, OpenEvidence confirmed that it has surpassed $100 million in annual revenue, a key indicator of strong product-market fit. The platform currently operates on a free, ad-supported model, allowing widespread access for clinicians while generating sustainable income. This revenue milestone further reinforces the company’s long-term business viability and attractiveness to investors. The Future of AI in Healthcare Information With its latest funding round, OpenEvidence is well-positioned to expand its AI capabilities, enhance clinical accuracy, and potentially enter new healthcare markets. As artificial intelligence continues to transform medical research and decision-making, platforms like OpenEvidence are becoming essential tools for modern healthcare systems. The company’s rapid rise underscores a broader trend: AI-powered medical information platforms are no longer optional—they are becoming critical infrastructure in healthcare. For more breaking technology news, AI startup updates, and innovation stories from the U.S. tech ecosystem, stay connected with TechCes.com 🚀

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Emm Secures $9M to Launch One of the World’s First Smart Menstrual Cups

In a major step forward for femtech innovation, UK-based startup Emm has raised $9 million in seed funding to bring its “smart” menstrual cup to market. The idea originated during the COVID lockdown, when founder Jenny Button realized that while wearables like the Oura Ring and Whoop band offered deep wellness insights, nothing provided meaningful data about menstrual and reproductive health. Turning a Simple Cup Into a Smart Health Tool After thousands of prototypes and years of testing, Emm revealed what Button describes as the world’s first smart menstrual cup. It functions like a traditional menstrual cup but is built from medical-grade silicone embedded with ultra-thin sensor technology. These sensors track cycle data and patterns that are often impossible to capture through conventional health tools. Button believes the device could significantly improve the way reproductive conditions are detected and treated. Menstrual blood, she notes, is an untapped health resource, capable of providing insights beyond what circulatory blood tests can offer. A New Path for Diagnosing Reproductive Health Issues One of Emm’s biggest potential impacts is in diagnosing conditions such as endometriosis, which affects one in ten women and can take 7 to 10 years to identify. Button says this delay stems from a lack of reliable, objective menstrual health data — something Emm aims to solve. Beyond endometriosis, she highlights that one in three women will face serious reproductive health challenges during their lifetime. Emm’s technology could help speed up diagnoses and empower users with clearer information about their bodies. Privacy-First Technology With Strong Backing All data collected through the Emm app is encrypted, anonymized or pseudonymized, and protected by two-factor authentication. Only essential team members can access it, ensuring user privacy remains a core priority. Emm’s $9M seed round was led by Lunar Ventures, with participation from Alumni Ventures (an early Oura backer), The Labcorp Venture Fund, and BlueLion Global. The product is slated to launch in the UK next year, and the waitlist has already exceeded 30,000 sign-ups. Button expects a U.S. rollout by early 2027. Building the Future of Women’s Health Button says menstrual health is only the beginning. Emm plans to expand into diagnostics, digital tools, and potentially therapeutics. Her mission is clear: give people the data they need to take control of their health and advocate for themselves.

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Tech-Ces

Paid, the AI Billing Startup by Manny Medina, Raises $21.6M Seed Round

Paid, the innovative AI billing startup founded by Manny Medina, has made headlines by closing an oversubscribed $21.6 million seed funding round led by Lightspeed Venture Partners. With a €10 million pre-seed secured earlier this year, the London-based company has raised a total of $33.3 million. According to insiders, the startup’s valuation has already surpassed $100 million, a remarkable milestone for a company still pre-Series A. What Makes Paid Different? – Results-Based Billing for AI Unlike traditional SaaS companies or AI platforms, Paid doesn’t create AI agents itself. Instead, it provides the infrastructure for “results-based billing”—a new model where AI agents are billed according to the value they deliver, not just their usage. This approach is designed for the AI era, where per-user fees or unlimited subscriptions no longer work. Many AI startups pay significant costs to cloud and model providers, making flat pricing models unprofitable. Results-based billing allows companies to charge for measurable outcomes, such as savings or efficiency gains, ensuring customers only pay for real, value-driven results. Founder Manny Medina, best known for creating Outreach (valued at $4.4 billion), explained it this way: “If you’re a quiet agent, you don’t get paid. You need an infrastructure that charges for the actual work the agent is doing.” Why Traditional AI Pricing Models Fail The demand for a new billing model is clear. Most enterprise AI projects fail to prove their worth—MIT research shows that 95% of corporate AI pilots generate no real value, with only 5% moving to production. Businesses don’t want to spend on AI that produces “slop,” such as endless low-quality emails or outputs that bring no tangible benefit. Paid solves this by ensuring AI providers can prove ROI and tie billing directly to performance-based results. Early Customers and Adoption Despite being in its early stages, Paid has already attracted strong interest. Its customers include: This shows Paid’s potential to scale across both fast-growing startups and established enterprise players in the SaaS ecosystem. Investor Confidence in Paid’s Vision The seed round was led by Lightspeed, with participation from FUSE and existing investor EQT Ventures. Alexander Schmitt, a partner at Lightspeed, said the firm has invested over $2.5 billion in AI infrastructure and applications in the past three years but noted that most AI pilots fail. He believes Paid’s unique results-based billing model could unlock large-scale adoption: “The core of the problem is that no one can really attach value to what agents are doing today. Paid is solving that.” A Shift in How AI Gets Paid With strong funding, early customers, and a proven founder, Paid is poised to set a new standard in AI billing models. As businesses demand accountability and real ROI from their AI tools, results-based billing could replace outdated SaaS-style subscriptions. For Manny Medina, the message is clear:The future of AI isn’t just about building smarter agents—it’s about proving their value.

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