Olive AI
Health TechUSAClosed 2023
Total Raised
$852M
Peak Valuation
$4B
Employees
1,200
Year Collapsed
2023
Business model
AI software automating hospital administrative and revenue-cycle tasks.
In brief
A healthcare automation company claiming its AI could dramatically cut hospitals' administrative costs, reaching a $4B valuation in 2021. Overpromised results and unfocused expansion led to a full wind-down by late 2023.
See the What Happened tab for the full account.
Key facts
- Founded
- 2012
- Closed
- 2023
- Headquarters
- Columbus, USA
- Industry
- Health Tech
- Employees
- 1,200
- Revenue
- Undisclosed
- Founders
- Sean Lane
Related failures
Theranos
2003–2018Health Tech · USA
Fraud$945MOutcome Health
2006–2017Health Tech · USA
Fraud$500MForward
2017–2024Health Tech · USA
Ran out of funding$400MPractice Fusion
2005–2020Health Tech · USA
Fraud$157MuBiome
2012–2019Health Tech · USA
Fraud$105MReef Technology (Kitchens division)
2013–2023Food Tech / Real Estate · USA
Overexpansion$1.50B
Often compared with: Waystar, R1 RCM, Notable Health.