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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.
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
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Simplify's Take
What believers are saying
- Waystar acquired Olive’s clearinghouse and patient access assets, preserving some product continuity.
- Humata Health bought prior authorization technology, keeping Olive workflows alive in healthcare.
- The shutdown crystallized valuable talent and IP for buyers seeking hospital automation expertise.
What critics are saying
- Olive ceased operations in October 2023; no standalone employer exists today.
- JobsOhio dropped its 2024 lawsuit after Olive missed 2019 hiring pledges and dissolved.
- Employees face rehiring risk because Waystar and Humata absorbed the only valuable assets.
What makes Olive unique
- Olive never built a standalone moat; Waystar and Humata bought the core in 2023.
- Its strongest legacy was healthcare workflow integration across claims, clearinghouse, and prior authorization.
- Sean Lane’s 2012 Columbus build scaled fast enough to attract $902 million.
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Funding
Total Funding
$855.3M
Above
Industry Average
Funded Over
9 Rounds
Tiger Global
General CatalystBenefits
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 2%2 year growth
↑ 2%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.
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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