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About Olive
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Healthcare
Company Size
501-1,000
Company Stage
Late Stage VC
Total Funding
$855.3M
Headquarters
Columbus, Ohio
Founded
2024
Overview
Olive built an AI-as-a-Service platform that automates high-volume, repetitive administrative and clinical tasks in healthcare. Its software works by integrating with hospitals’ existing systems to act as an AI-powered “workforce” that handles tasks such as claims processing, prior authorizations, and data entry, aiming to reduce administrative costs, improve revenue cycle management, and free clinicians to focus on patient care. The company differentiated itself by offering a broad set of automation across revenue cycle management, supply chain optimization, and clinical analytics, and by expanding through acquisitions like Verata Health and Empiric Health to add capabilities. Its goal was to help healthcare providers operate more efficiently by replacing manual administrative work with automated processes through AI-driven workflows embedded into hospital IT ecosystems.
Simplify's Take
What believers are saying
- Waystar acquired Olive's clearinghouse unit, boosting revenue cycle dominance.[1]
- Humata Health gained prior authorization tech, cutting denial rates 30%.[2]
- Availity integrated utilization management for real-time claims processing.[1]
What critics are saying
- JobsOhio sues Olive over unmet jobs pledge, imposing financial penalties.[1]
- Terminated clients demand refunds, eroding assets in wind-down.[2]
- Investors like Sequoia pursue clawbacks over $902M amid fraud claims.[1]
What makes Olive unique
- Olive AI automated revenue cycle tasks using AI-as-a-Service platform.[1]
- Integrated with hospital systems for claims processing and prior authorizations.[2]
- Acquired Verata Health and Empiric Health to expand capabilities.[1]
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Funding
Total Funding
$855.3M
Above
Industry Average
Funded Over
9 Rounds
Tiger Global
General CatalystBenefits
Remote Work Options
Company News
The spy-focused startup from Olive AI Inc. founder Sean Lane has raised $3.85 million toward a goal of $4 million, according to a regulatory filing.
Olive AI raised nearly $900 million from investors including Vista Equity Partners, Dragoneer Investment Group, General Catalyst, Sequoia Capital...
Today, . Olive <i class="fa fa-info-circle company-popover" data-content="h3Olive/h3. div
Olive Shutters Business After Sale to Waystar and Humata Health. by Fred Pennic 10/31/2023 Leave a Comment. What You Should Know: – Healthcare automation company Olive today announced it will shut down its business after selling its Clearinghouse and Patient Access business units to Waystar and its Prior Authorization business unit to Humata Health. Olive sold off its utilization management solution and business unit to Availity and business intelligence solution to BurstIQ earlier this year. – Founded in 2012, Olive is a developer of an artificial intelligence workforce, automated revenue cycle and claims management for the healthcare industry. The company secured over $900M in funding reaching a $4B valuation
In July 2022, amid an economic downturn, Olive laid off 450 employees as the CEO cited tough economic conditions as well as "missteps" in the company's strategy.
There are no jobs for Olive right now.
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About Olive
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Healthcare
Company Size
501-1,000
Company Stage
Late Stage VC
Total Funding
$855.3M
Headquarters
Columbus, Ohio
Founded
2024
There are no jobs for Olive right now.
Find jobs on Simplify and start your career today