Olive closes $225.5M investment round: 4 notes

Olive, a healthcare workforce artificial intelligence startup, closed a multimillion-dollar financing round to boost its overall valuation to $1.5 billion.

Four details:

1. Olive closed a $225.5 million financing round led by Tiger Global on Dec. 1. Other investors in the financing round include General Catalyst, GV, Sequoia Capital and Transformation Capital Partners.

2. Over the past nine months, Olive secured $385 million in financing. The company has more than 600 U.S. hospital clients.

3. With the new funding, Olive plans to accelerate product development and fast-track the artificial intelligence workforce for healthcare.

4. Since September, Olive has worked with Boston-based Tufts Medical Center to support COVID-19 testing, expanded its leadership team and formed a cybernetics division.

"In the years ahead, we're setting our sights on the big picture — investing in [research and development] to bring more solutions to hospitals and health systems that not only disrupt the industry, but also help to fix a broken system at a time critical for humanity," said Olive CEO Sean Lane.

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