Olive: $400 Million Funding And $4 Billion Valuation

By Dan Anderson ● July 11, 2021
  • Automation company Olive announced recently that it closed a $400 million funding round at a $4 billion valuation. These are the details.

Olive — an automation company creating the Internet of Healthcare — announced recently that it closed a $400 million funding round at a $4 billion valuation. This funding round was led by Vista Equity Partners with additional investment from the Base10 Partners Advancement Initiative. Being a Base10 Advancement Initiative portfolio company, Olive will contribute to scholarship and financial aid awards for America’s Historically Black Colleges and Universities, which will become known as The Olive Scholarship.

Olive’s AI workforce connects patients, providers, and payers to automate burdensome workflows and support human workforces. Plus it has been a catalyst for healthcare’s pace of digital transformation pulling ahead of other industries. 

This latest round of funding will enable Olive to further scale product development, reaching more healthcare providers who can use the company’s technology to drive life-changing outcomes. Olive has now raised $832 million in financing since March 2020 and $902 million since the company’s inception in 2012.

Now Olive’s enterprise AI is now in place at more than 900 hospitals in over 40 U.S. states, including more than 20 of the top 100 U.S. health systems. And to drive true transformation Olive is utilizing network efforts as it connects healthcare, delivering constantly growing intelligence across the industry through a series of new products, as well as acquisitions and a platform that developers are able to build off of.

KEY QUOTES:

“Olive is the leading force for rapid product development to better empower the humans in healthcare. She is being hired at health systems and insurance companies across the country at lightning speed. Olive’s widespread adoption as mission-critical tech makes it clear that now is the time for the healthcare industry to pull into the lead position for enterprise AI adoption.”

— Sean Lane, CEO of Olive

“At Vista, we believe in the transformative power of technology and see incredible potential in Olive’s ability to connect healthcare providers in new ways. We believe the company’s AI capabilities are poised to deliver true disruption to the healthcare industry through automating and optimizing workflows, improving interoperability and turning critical data into actionable insights. We look forward to working closely with Olive’s management team as they continue to execute on their vision.” 

— Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director