Olive just hit a major milestone with the help of billionaire Robert F. Smith’s Vista Equity Partners.
According to PR Newswire, The automation company known for creating the Internet of Healthcare has announced that it has closed a $400 million funding round which brings the company to a $4 billion valuation.
Olive will contribute to scholarship and financial aid awards for America’s Historically Black Colleges and Universities as a Base10 Advancement Initiative portfolio company. The awards will become known as The Olive Scholarship.
The company’s current Artificial Intelligence (AI) workforce connects patients, providers, and payers in an effort to automate burdensome workflows and support human workforces at the same time. It has been a pioneer for the digital transformation of healthcare.
“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,” said Olive’s CEO, Sean Lane. “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.”
Since March 2020, Olive has secured $832 million in financing and $902 million since the company’s start in 2012.
“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,” said Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “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.”
Today Olive’s enterprise AI is housed in more than 900 hospitals in over 40 U.S. states.
Click here for more on how Olive continues to transform healthcare.