ISSUE – Dec. 02 | Healthcare process automation startup Olive AI lands $1.5B valuation

It’s been a busy year for Olive AI, the Cleveland-based startup that automates routine administrative tasks for hospitals. Not long after raising $106 million in funding, the company closed a $225.5 million round led by Tiger Global Management, giving it a $1.5 billion valuation. Since the start of 2020, the company has raised a total of $385 million, with backers including General Catalyst, Drive Capital and GV. CEO Sean Lane, a former NSA agent, founded the company in 2012, after realizing that most systems in healthcare often aren’t connected. Traveling between hospitals, he noticed a “sea of cubicles” with employees doing the same tasks over and over again. “In reality, it was like an assembly line,” he said in a previous interview. “Humans were under this mountain of work that they never could get done because of that.” [ med city news ]

Checkout 15K+ Venture Capital Data on our platform.

vp1 vp2