Funding round
Olive Growth
Reported as "Growth Equity"
Olive, which works in healthcare revenue cycle automation solutions in United States, raised $226M in a Growth round announced on 1 Dec 2020, led by Tiger Global, at a $1.50B post-money valuation. 8 firms took part, 4 of them already investors. It is Olive's fifth venture round on record; the one before was a Series F in Sep 2020.
$226M
Amount raised
$1.50B
Post-money valuation
$1.27B pre-money
8
Investors
1 lead
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Olive at $1.50B after the new money. The $226M bought investors about 15% of the company. It came 3 months after Olive's Series F. It is 28% of the $813M Olive has raised in the venture rounds on record. Olive raised again 7 months later: a Series H+ round of $400M in Jul 2021, at $4.00B post-money.
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 31 Mar 2020, led by General Catalyst $51M
- Series F 18 Sep 2020, led by General Catalyst and Drive Capital $106M
- Growth this round 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
Tiger Global led the round with 7 other firms. Tiger Global, General Catalyst, Drive Capital and Silicon Valley Bank had backed Olive before.
Lead investor
- Tiger Global backs 391 venture-backed companies existing investor
Also in the round
- General Catalyst backs 574 venture-backed companies existing investor
- backs 35 venture-backed companies existing investor
- Silicon Valley Bank existing investor
- GV backs 428 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- backs 38 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
346 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $51M, and this round was 4.5 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Verily Tech Companies | 17 Dec 2020 | $700M | not disclosed | not named |
| Tech Companies | 31 Dec 2020 | $100M | not disclosed | not named |
| Tech Companies | 16 Dec 2020 | $60M | not disclosed | Silversmith Capital Partners |
| Tech Companies | 10 Dec 2020 | $56M | not disclosed | not named |
| Tech Companies | 7 Dec 2020 | $50M | $575M | Lead Edge Capital |
| Tech Companies | 9 Dec 2020 | $37M | not disclosed | Zeev Ventures |
| Tech Companies | 8 Dec 2020 | $32M | not disclosed | Riverwood Capital |
| Tech Companies | 1 Dec 2020 | $30M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Olive raise in its Growth round?
Olive raised $226M in its Growth round, announced in Dec 2020.
Who led Olive's Growth round?
Tiger Global led it, with General Catalyst, Drive Capital, Silicon Valley Bank, GV and Sequoia Capital and 2 more.
What was Olive's valuation at the Growth round?
$1.50B post-money ($1.27B pre-money).
How does it compare with other Growth rounds in Tech Companies?
346 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $51M, and this round was 4.5 times the median.
Did Olive raise again after this round?
Yes: a Series H+ round in Jul 2021 of $400M at $4.00B post-money.