Olive, a Columbus, OH-based provider of an AI workforce platform for the healthcare system, closed $225.5m in financing.
The round, which brings the company’s valuation to $1.5 billion, was led by Tiger Global and joined by existing investors General Catalyst, Drive Capital and Silicon Valley Bank along with new investors GV, Sequoia Capital Global Equities, Dragoneer Investment Group and Transformation Capital Partners.
The company, which has now secured $385 million in financing in the last nine months and $448 million since founding in 2012, intends to use the funds to accelerate product development, with plans to announce more capabilities in 2021 to support the entire healthcare ecosystem.
Olive provides an AI workforce built to fix the broken healthcare system by addressing healthcare’s most burdensome issues, delivering hospitals and health systems increased revenue, reduced costs, and increased capacity. It uses AI to reveal insights that make healthcare more efficient, affordable and effective.
Throughout 2020, the company has served over 600 U.S. hospitals, including 22 percent of the top 100 health systems in the country.
Led by Sean Lane, CEO, Olive has also bolstered its executive team with two new hires:
- Ali Byrd, who joins as Chief Financial Officer, and
- Shoshana Deutschkron, who joins as Chief Marketing Officer.