Olive, the company creating the AI workforce for healthcare has announced an additional $225.5M in financing 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. Olive has now secured $385 million in financing in the last nine months and $448 million since the company’s founding in 2012. This new round brings the company’s valuation to $1.5 billion.
Founded in 2012, Olive builds artificial intelligence and RPA solutions that empower healthcare organizations to improve efficiency and patient care while reducing costly administrative errors. Olive is the only healthcare-specific artificial intelligence solution sold as a service – that means one annual price and an all-in-one approach to hiring a digital employee.
Throughout 2020, Olive has cemented itself as critical to the infrastructure of over 600 U.S. hospitals, including 22 percent of the top 100 health systems in the country. 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. According to “The State of AI in 2020,” a recent study released by McKinsey, COVID-19 has driven AI investment in healthcare faster than in any other industry. Since its $106 million in Series F financing mid-September, the company has announced Olive Helps, support of Tufts Medical Center’s COVID-19 testing and an expanded leadership team, including the formation of the Cybernetics division.