General Catalyst, Drive Capital Make Largest Investment Yet to Grow Olive’s AI Workforce
Olive continues to expand its healthcare AI workforce, announcing it secured $106 million in financing, led by an equity investment from General Catalyst and Drive Capital, along with Ascension Ventures, Oak HC/FT and SVB Capital. Olive has raised over $220 million to date.
Olive’s AI workforce has been adopted by over 600 hospitals, including 22% of the top 100 health systems in the country.
Olive has seen a massive surge in the demand for AlphaSites, which are onsite command centers that rapidly deploy and manage AI workers to capture value for health systems. Olive’s team has grown this year to over 360 employees, adding 67 new Olivians in the month of August 2020 alone. In May, the company announced an innovative work model called The Grid, which expanded Olive’s footprint across the country to draw top talent and strategically deploy resources as close to customers as possible.
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Olive Works as an extension of your human workforce to automate tasks across departments such as revenue cycle, information technology, supply chain, clinical administration, and human resources. With Olive’s support, hospitals and healthcare systems are able to work more efficiently, increase revenue, and expand the capacity and ROI of their human workforce.
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“The AI workforce is the biggest impact to health systems in our lifetime,” said Sean Lane, CEO of Olive. “Olive has become a piece of critical infrastructure for hospitals and a trusted, reliable product that expands human capacity at a time when resources are more precious than ever. The AI workforce has become the ‘new normal’. And while we are excited about this latest investment, we’re just getting started.”
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