Fierce Healthcare October 31, 2023
Healthcare startup Olive saw a meteoric rise in 2020 and 2021, spurred by the digital health funding boom and the need for automation during the COVID-19 pandemic.
The company pulled in $225 million in December 2020 at a valuation of $1.5 billion. Seven months later, it banked a hefty $400 million funding round that propelled its valuation to a reported $4 billion.
The company raised $832 million in funding just since March 2020 backed by big-name investors like General Catalyst, Ascension Ventures, Oak HC/FT and SVB Capital.
In 2021, Olive executives said the company’s enterprise AI was in place at more than 900 hospitals in over 40 U.S. states, including more than 20 of the top 100 U.S. health...
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