Funding round
Olive Growth
Reported as "Growth Equity"
Olive, which works in healthcare revenue cycle automation solutions in United States, raised $51M in a Growth round announced on 31 Mar 2020, led by General Catalyst. 4 firms took part, 4 of them already investors. It is Olive's third venture round on record; the one before was a Series C in Apr 2016.
$51M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Olive did not disclose a valuation in this round. It came 47 months after Olive's Series C. It is 6.3% of the $813M Olive has raised in the venture rounds on record. Olive raised again 6 months later: a Series F round of $106M in Sep 2020. Its next priced round, a Growth in Dec 2020, valued it at $1.50B.
Olive's funding rounds
Olive has 6 venture rounds on record. This one is highlighted.
- Series B 13 Apr 2015 $15M
- Series C 1 Apr 2016 $15M
- Growth this round 31 Mar 2020, led by General Catalyst $51M
- Series F 18 Sep 2020, led by General Catalyst and Drive Capital $106M
- Growth 1 Dec 2020, led by Tiger Global $226M$1.50B post-money
- Series H+ 1 Jul 2021, led by Vista Equity Partners and Base10 Partners $400M$4.00B post-money
Investors
Who put money in
General Catalyst led the round with 3 other firms. General Catalyst, Drive Capital, Oak HC/FT and Ascension had backed Olive before.
Lead investor
- General Catalyst backs 574 venture-backed companies existing investor
Also in the round
- backs 35 venture-backed companies existing investor
- Oak HC/FT backs 106 venture-backed companies existing investor
- backs 83 venture-backed companies existing investor
Joined the board: Ron Paulus (Mission Health).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
249 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was close to the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Mar 2020 | $340M | not disclosed | Vitruvian Partners |
| Tech Companies | 2 Mar 2020 | $56M | not disclosed | Blisce |
| Tech Companies | 23 Mar 2020 | $50M | not disclosed | not named |
| Addepar Tech Companies | 19 Mar 2020 | $40M | not disclosed | WestCap |
| Tech Companies | 20 Mar 2020 | $30M | not disclosed | not named |
| Tech Companies | 26 Mar 2020 | $25M | not disclosed | Jerusalem Venture Partners |
| Tech Companies | 26 Mar 2020 | $20M | not disclosed | One Peak |
| Tech Companies | 10 Mar 2020 | $18M | not disclosed | Edison Partners |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Olive raise in its Growth round?
Olive raised $51M in its Growth round, announced in Mar 2020.
Who led Olive's Growth round?
General Catalyst led it, with Drive Capital, Oak HC/FT and Ascension.
What was Olive's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
249 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was close to the median.
Did Olive raise again after this round?
Yes: a Series F round in Sep 2020 of $106M.