The round was led by General Catalyst with participation from existing investors include Drive Capital, Oak HC/FT, Ascension Ventures and others. In conjunction with the funding, Ron Paulus, former president and CEO of Mission Health, a $2 billion integrated health system, will join Olive’s Board of Directors.
The company intends to use the funds to accelerate its growth.
Led by Sean Lane, CEO, Olive provides an AI workforce that automates healthcare’s most repetitive, high-volume administrative processes, across departments such as Revenue Cycle, Information Technology, Supply Chain, Clinical Administration, Human Resources and more, to deliver improved efficiency, reduced costs, and increased employee capacity. In 2019, the company’s presence grew to over 500 U.S. hospitals across 41 states, including 25 of the nation’s largest health systems.
Source, FinSMEs, April 1, 2020
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