Olive, a Columbus, OH-based healthcare AI workforce company, secured $106m in financing.
The round was led by an equity investment from General Catalyst and Drive Capital, along with Ascension Ventures, Oak HC/FT and SVB Capital.
The company, which has raised over $220m to date, intends to use the funds to continue to expand operations and its business reach.
Led by Sean Lane, CEO, Olive works as an extension of human workforce for hospitals and healthcare systems to automate tasks across departments such as revenue cycle, information technology, supply chain, clinical administration, and human resources. Its AI workforce has been adopted by over 600 hospitals, including 22% of the top 100 health systems in the country.
In May, the company announced an innovative work model called The Grid, which expanded Olive’s presence across the country to draw top talent and strategically deploy resources as close to customers as possible.
The company has a team of over 360 employees.