Home Healthcare Process Automation Startup Olive Has Reached $4B Valuation

Healthcare Process Automation Startup Olive Has Reached $4B Valuation

by sol-admin

Olive is the only enterprise AI solution built specifically for healthcare. Olive’s enterprise AI is now in place at more than 900 hospitals in over 40 U.S. states, including more than 20 of the top 100 U.S. health systems. The company aims to bring a humanized and empathetic approach to automation in healthcare.

Yesterday, it was announced the startup closed a $400 million funding round, bringing the company to a $4 billion valuation. The round was led by Vista Equity Partners (“Vista”), a leading global investment firm focused on enterprise software, data, and technology-enabled businesses.

RPA platforms use artificial intelligence to observe how employees perform a given task in an application and, over time, learn to carry out the task automatically. Olive has applied this approach to automating tasks specific to the healthcare sector, such as ordering new medical supplies. Reducing the number of manually performed steps involved in such workflows not only frees up time for employees but also reduces the risk of human error.

“At Vista, we believe in the transformative power of technology and see incredible potential in Olive’s ability to connect healthcare providers in new ways. We believe the company’s AI capabilities are poised to deliver true disruption to the healthcare industry through automating and optimizing workflows, improving interoperability and turning critical data into actionable insights. We look forward to working closely with Olive’s management team as they continue to execute on their vision.”

Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director

“Olive is the leading force for rapid product development to better empower the humans in healthcare. She is being hired at health systems and insurance companies across the country at lightning speed. Olive’s widespread adoption as mission-critical tech makes it clear that now is the time for the healthcare industry to pull into the lead position for enterprise AI adoption.”

Sean Lane, CEO, Olive