Olive: $225.5 Million And $1.5 Billion Valuation

By Dan Anderson ● Dec 3, 2020
  • Olive recently announced that it raised $225.5 million in funding led by Tiger Global

Olive recently announced that it raised $225.5 million in funding led by Tiger Global and it was 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.

Including this funding round, Olive has raised $385 million in funding over the last 9 months and $448 million in funding since the company was founded in 2012. And this funding round brings the company’s valuation to $1.5 billion.

This year, Olive has cemented itself as critical to the infrastructure of over 600 U.S. hospitals, including 22% of the top 100 health systems in the country. And Olive’s disruptive innovation will continue to intensely focus on addressing healthcare’s most burdensome issues as the industry copes with more demands than ever. 

Since the company raised $106 million in Series F funding in the middle of September, the company announced Olive Helps, the support of Tufts Medical Center’s COVID-19 testing, and an expanded leadership team — including the formation of the Cybernetics division.

This funding round will enable Olive to accelerate product development and the company plans to announce more capabilities in 2021 to support the entire healthcare ecosystem. To help with the expansion, Olive also bolstered its executive team with two new hires Ali Byrd as CFO and Shoshana Deutschkron.

Byrd has nearly 25 years of software industry experience as an operator, advisor, and investor. And Deutschkron has over two decades of experience in technology marketing.

KEY QUOTE:

“For every dollar Olive makes, healthcare saves five. That amounts to pretty incredible cost savings throughout the industry, and it’s helped us become an indispensable part of hospitals’ recovery plan during the pandemic. In the year ahead, we’re setting our sights on the big picture — investing in R&D to bring more solutions to hospitals and health systems that not only disrupt the industry, but also help to fix a broken system at a critical time for humanity.”

— Olive CEO Sean Lane