Olive builds AI-driven automation tools for healthcare organizations, helping reduce administrative errors, eliminate manual workflows, and improve operational efficiency. Its platform automates tasks such as eligibility checks, prior authorizations, unadjudicated claims, and data migration. By reducing costs, boosting productivity, and accelerating revenue cycles, Olive enables hospitals and providers to focus more on patient care while improving financial performance across their operations.
What Is Olive and What Does It Do?
Olive, founded in 2012 by Sean Lane and Brad Mascho, is a Columbus-based (United States) healthcare IT company specializing in AI-powered administrative solutions.
Olive employs 628 people and automates critical administrative processes for healthcare systems, including claims processing, eligibility verification, code matching, and data migration.
Olive’s mission is to eliminate manual administrative burdens, reduce operational risk, and streamline cost-heavy workflows using AI and machine learning.
How Much Funding Has Olive Raised?
- Series H
• Amount Raised: $400M
• Date: July 2021
• Lead Investors: Vista Equity Partners, Base10 Partners, Tiger Global Management
• Motivation: To expand Olive’s AI workforce, accelerate enterprise-scale automation tools, and deepen integrations across U.S. healthcare systems. - Series G
• Amount Raised: $226M
• Date: December 2020
• Lead Investors: Tiger Global Management, General Catalyst, Drive Capital, SVB, Google Ventures, Dragoneer Investment Group, Transformation Capital, Sequoia Capital
• Motivation: To enhance AI infrastructure, expand customer adoption, and scale operational performance across major hospital networks. - Series F
• Amount Raised: $106M
• Date: September 2020
• Lead Investors: General Catalyst, Drive Capital, Oak HC/FT, Ascension Ventures, SVB Capital
• Motivation: To grow Olive’s automation capabilities and support national expansion during peak healthcare system demand.
Total Funding Raised: $902 Million
Current Valuation: $4 Billion (as of July 2021)
Latest Funding Date: July 2021
Key Investors
- Tiger Global Management
• Details: Global investment firm backing category-leading tech and healthcare companies.
• Investment Focus Areas: AI, SaaS, healthcare tech, digital infrastructure.
• Notable Investments: Olive, Stripe, DataBricks. - Dragoneer Investment Group
• Details: Long-term investor specializing in high-growth private and public technology companies.
• Investment Focus Areas: Enterprise software, fintech, and AI automation.
• Notable Investments: Airbnb, DoorDash, Snowflake. - General Catalyst
• Details: Leading venture capital firm backing transformative companies across sectors.
• Investment Focus Areas: Healthcare IT, AI automation, enterprise platforms.
• Notable Investments: Olive, Stripe, Samsara.
Where Is Olive’s Headquarters?
Olive is headquartered in Columbus, Ohio, a growing hub for healthcare and technology. The location provides Olive with access to major hospital systems, clinical data networks, and a robust midwestern tech talent pipeline, supporting company growth across healthcare automation sectors.
What’s Next for Olive?
Olive is expected to expand its AI automation suite by introducing predictive analytics, autonomous claims routing, and end-to-end administrative orchestration for hospitals. The company aims to reduce healthcare operational costs by billions annually.
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