Olive AI tried to raise money in a last-ditch effort before shutting down in late October, according to Columbus (Ohio) Inno.
Olive, which provided healthcare automation technology to health systems, had 115 employees at the end, the news outlet reported Nov. 6, citing a state filing. "The company had hoped to complete one or more transactions and secure funds and business to prevent the closing of the business, but was unable to do so," the report noted.
Instead, Olive sold its remaining business lines to health IT company Waystar and AI startup Humata then closed its doors. It was a mighty fall for a company that two years earlier was valued at $4 billion and employed about 1,400 people just last year.