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oliveai.com

Founded Year

2012

Stage

Series H | Alive

Total Raised

$858.8M

Valuation

$0000 

Last Raised

$400M | 1 yr ago

About Olive

Olive is a healthcare-specific artificial intelligence and process automation company that empowers healthcare organizations to improve efficiency and patient care while reducing costly administrative errors. Its eponymous AI solution, Olive, acts as the intelligent router between systems and data by automating repetitive, high-volume tasks and workflows, providing true interoperability. Olive has helped healthcare organizations reduce data and billing errors, eliminate denials for no coverage, improve cash collections by reducing days in A/R, and more.

Olive Headquarter Location

99 E. Main Street Suite 1750

Columbus, Ohio, 43215,

United States

800-501-3161

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Expert Collections containing Olive

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Olive is included in 9 Expert Collections, including Unicorns- Billion Dollar Startups.

U

Unicorns- Billion Dollar Startups

1,180 items

R

Robotic Process Automation

322 items

RPA refers to the software-enabled automation of data-intensive tasks that are low-skill but highly sensitive operationally, including data entry, transaction processing, and compliance.

A

Artificial Intelligence

9,093 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

D

Digital Health 150

450 items

2019's cohort of the most promising digital health startups transforming the healthcare industry

H

Health IT

2,669 items

Companies partnering with healthcare stakeholders to improve operational efficiency across payment, supply chain, data mgmt, and more.

C

Conference Exhibitors

5,302 items

Olive Patents

Olive has filed 31 patents.

The 3 most popular patent topics include:

  • Cubism
  • Social networking services
  • Modern art
patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/6/2018

7/12/2022

Obesity, Quantum measurement, Quantum mechanics, Body shape, Abdomen

Grant

Application Date

7/6/2018

Grant Date

7/12/2022

Title

Related Topics

Obesity, Quantum measurement, Quantum mechanics, Body shape, Abdomen

Status

Grant

Latest Olive News

Healthcare automation company Olive lays off around 450 workers

Jul 20, 2022

Olive announced a $400 million investment round in July 2021. Photo: Tetra Images - Daniel Grill/Getty Images Healthcare automation startup Olive is laying off about 450 workers, according to an email sent by CEO Sean Lane to employees on Tuesday. Lane wrote the company had grown quickly over the past several years, hiring new staffers and launching new tools. But the "realities of today's economy" are pushing the automation company to pull back from that strategy. Going forward, Olive will focus on the company's Autonomous Revenue Cycle product geared toward providers and its Utilization Management Transformation tool for payers. The letter said the plan will help Olive become profitable more quickly than the startup had first planned. Laid off employees received an email notifying them that their last day is today, but their official employment will end in 60 days. Lane wrote that affected workers will be eligible for two weeks of severance per year of service as well as job placement support and access to a talent portal. "While we are experiencing many of the same headwinds as other organizations — including shifts in the industry landscape, evolving customer expectations and challenging market conditions — we also must reconcile missteps we made," Lane wrote. "Our fast-paced growth and lack of focus strained our product and engineering resources and prevented us from executing quickly on key initiatives. I take responsibility for this." THE LARGER TREND The layoffs come about a year after Olive announced it had closed a $400 million funding round that boosted its valuation to $4 billion. It also raised multiple rounds in 2020, including a $225.5 million investment announced in December that year. In April, Axios reported that Olive wasn't delivering on its promises to generate big cost savings for health systems by automating administrative tasks. Olive is far from the only digital health company pursuing layoffs this summer. Payment startup Cedar laid off 24% of its workforce earlier this month. Ro, a direct-to-consumer virtual care unicorn that earlier this year raised $150 million , let go of 18% of its workforce. Diagnostics company Cue Health , hybrid provider Carbon Health , primary care company Forward and mental health startup Cerebral have also laid off employees. A Rock Health report on digital health funding through the first half of 2022 found growth-stage companies may face particular challenges in the current market, noting the recent spate of layoffs. Sizes of Series B, C and D+ deals declined compared with 2021, while Series A rounds stayed steady. Tags:

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  • When was Olive founded?

    Olive was founded in 2012.

  • Where is Olive's headquarters?

    Olive's headquarters is located at 99 E. Main Street, Columbus.

  • What is Olive's latest funding round?

    Olive's latest funding round is Series H.

  • How much did Olive raise?

    Olive raised a total of $858.8M.

  • Who are the investors of Olive?

    Investors of Olive include Tiger Global Management, Base10 Partners, Vista Equity Partners, Drive Capital, General Catalyst and 13 more.

  • Who are Olive's competitors?

    Competitors of Olive include Itiliti Health, Sift Healthcare, LeanTaaS, Element5, Rhyme, Janus Health, Infinitus Systems, TachyHealth, Notable, Banjo Health and 12 more.

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