To learn more about Olive, visit www.oliveai.com. About Drive Capital’s founding partners, Mark Kvamme and Chris Olsen, are experienced venture capitalists, and have participated in several venture capital firms prior to founding Drive Capital. To learn more about Olive and our healthcare organization partners visit oliveai.com. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Drive Capital’s investments will be focused on the Heartland that stretches from Pittsburgh to Kansas City to Minneapolis and back. “The AI workforce is here, and the days of disconnected bots that don’t learn from each other are over,” said Sean Lane, CEO of Olive. These health system limited partners collectively operate more than 460 hospitals, have 572,000 employees and generate $96 billion in annual revenue. Payroll, Benefits and HR Tech Platform Gusto Raises $140M, Menlo Security Raises $25M in Series B Funding, Pagaya Raises $25M in Series C Funding Round, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Fax: (734) 665-4922, By using our website you agree to our updated, Olive Raises $51M to Accelerate its AI Workforce for Healthcare, Patient Event Notifications: Complying with new Interoperability CoPs, UKG (Ultimate Kronos Group): Future of Work: Aligning our Vision, Unpacking the healthcare regulatory environment: 21st Century Cures and Beyond. For more information visit www.ascensionventures.org. The announcement comes on the heels of record growth for the company, with Olive’s presence growing in 2019 to over 500 U.S hospitals across 41 states, including 25 of the nation’s largest health systems. COLUMBUS, Ohio, March 31, 2020 – Olive, the company creating the AI workforce for healthcare, today announced the close of its $51 million funding round led by General Catalyst. Olive is a developer of process automation software used to build meaningful artificial intelligence to empower healthcare organizations. Olive is a developer of process automation software used to build meaningful artificial intelligence to empower healthcare organizations. Active, Closed, Last funding round type (e.g. With offices in San Francisco, Palo Alto, New York City, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Canva, Gitlab, Gusto, Hubspot, Kayak, Monzo, Samsara, Snap, Stripe, and Warby Parker. The firm was launched in 2001 by Ascension, one of the nation’s leading Catholic and non-profit health systems, and today invests on behalf of thirteen of the nation’s leading community health systems. | Disclaimer Olive’s AI workforce 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. Founded late in 2012, Drive Capital invests funds and expertise in promising companies with global market opportunities in the IT, financial services, consumer, and healthcare services industries, and helps those entrepreneurs build the next generation of innovative businesses. For more: www.generalcatalyst.com. Vancouver-based Olive raises $1 million. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. Great Lakes Artificial Intelligence Companies. Olive is deploying the AI workforce built specifically for healthcare, delivering hospitals and health systems increased revenue, reduced costs and increased capacity. Seed, Series A, Private Equity), Alternate or previous names for the organization, Whether an Organization is for profit or non-profit, General contact email for the organization. The funding will enable Olive to accelerate its growth and further its mission of automating healthcare’s administrative processes so hospital employees can focus on delivering high-quality, cost-effective care. The round was led by General Catalyst with participation from existing investors include Drive Capital, Oak HC/FT, Ascension Ventures and others. For media inquiries and interview requests please contact: Director, Communications & Public Relations AV collaborates with these partners to identify, invest in, and support strategically aligned private companies that are transforming the healthcare industry and enhancing the experience for patients, their families and caregivers. FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. | News The funding was led by San Antonio’s Active Capital with participation from Techstars and UK-based Novator. Five months after raising $52M in VC, Columbus health AI maker Olive has raised another $106M toward a goal of landing all 5,000 U.S. hospitals as clients. AI workforce for healthcare company Olive raises $106 million . I am excited to be working closely with Olive’s management team to maximize the outsized positive impact we can have in healthcare on both the administrative and clinical fronts.”. Recent data reported by Olive found that nearly two-thirds of healthcare leaders plan to adopt automation technologies in the next two years, a significant uptick from the report issued less than 12 months ago. providers through her ever-growing, unparalleled intelligence made up of shared memories, collective wisdom and global awareness, learning like a network so hospitals never have to solve the same problem twice. Olive automates repetitive, high-volume tasks and workflows, monitoring their performance, identifying improvements and finding opportunities for new work. To learn more about Olive and our healthcare organization partners visit oliveai.com. 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. Ascension Ventures is a strategic healthcare venture firm with four funds and more than $800 million in capital under management. Olive offers a vendor selection platform that helps companies streamline IT procurement. Columbus-based Olive announced it has raised a $106 million financing round led by General Catalyst and Drive Capital, with participation from Ascension Ventures, Oak HC/FT and SVB Capital. Total amount raised across all funding rounds, Total number of current team members an organization has on Crunchbase, Total number of investment firms and individual investors, Descriptive keyword for an Organization (e.g. 710 Avis Drive, Suite 200 The company intends to use the funds to accelerate its growth. Olive is deploying the AI workforce built specifically for healthcare, delivering hospitals and health systems increased revenue, reduced costs and increased capacity. Olive raises $51 million to accelerate its AI workforce for healthcare . “As a recent health system CEO, I appreciate the duress our hospitals are under as they focus on delivering the best patient care possible under challenging circumstances all while needing to keep the lights on,” said Dr. Ronald A. Paulus. Olive, a Columbus, Ohio-based company creating an AI workforce for healthcare, closed its $51m funding round. The Daily Deal Newsletter 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. Existing investors include Drive Capital, Oak HC/FT, Ascension Ventures and others. Olive, a Vancouver-based startup has raised $1 million. Home » News & Press » Olive Raises $51M to Accelerate its AI Workforce for Healthcare. Olive automates repetitive, high-volume tasks and workflows, monitoring their performance, identifying improvements and finding opportunities for new work. Olive gives power back to. Olive gives power back to providers through her ever-growing, unparalleled intelligence made up of shared memories, collective wisdom and global awareness, learning like a network so hospitals never have to solve the same problem twice. COLUMBUS, Ohio, March 31, 2020 – Olive, the company creating the AI workforce for healthcare, today announced the close of its $51 million funding round led by General Catalyst. This latest round of funding brings its total funding … Driving efficiency in non-clinical work enables hospitals and healthcare leaders to focus more resources on the actions and activities that improve care. 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. Phone: (734) 665-0000 We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. | Advertise Olive was founded in 2012 and is headquartered in Columbus, Ohio. | Contact Columbus-based Olive said it closed a $51 million funding round led by General Catalyst that will fund acceleration of its development of an artificial intelligence bot that manages administrative tasks for hospitals. | REAL TIME VC & PRIVATE EQUITY DEALS AND NEWS. Check here to indicate that you have read and agree to the CHIME privacy policy terms. Olive, the company creating the AI workforce for healthcare, today announced the close of its $51 million funding round led by General Catalyst.