Funding round
Olive Series F
Olive, which works in healthcare revenue cycle automation solutions in United States, raised $106M in a Series F round announced on 18 Sep 2020, led by General Catalyst and Drive Capital. 5 firms took part. It is Olive's fourth venture round on record; the one before was a Growth in Mar 2020.
$106M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Olive did not disclose a valuation in this round. It came 6 months after Olive's Growth. It is 13% of the $813M Olive has raised in the venture rounds on record. Olive raised again 3 months later: a Growth round of $226M in Dec 2020, at $1.50B 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 this round 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 and Drive Capital led the round with 3 other firms.
Lead investors
- General Catalyst backs 574 venture-backed companies new investor
- backs 35 venture-backed companies new investor
Also in the round
- backs 83 venture-backed companies new investor
- Oak HC/FT backs 106 venture-backed companies new investor
- SVB Capital new investor
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
30 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $153M, and this round was 70% of the median. The closest in time, other companies' Series F rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Seismic Tech Companies | 29 Sep 2020 | $92M | $1.60B | Permira |
| Tech Companies | 25 Aug 2020 | $100M | $1.00B | Bain Capital Ventures and Technology Crossover Ventures |
| Chargebee Tech Companies | 6 Oct 2020 | $55M | $500M | Insight Partners |
| Tech Companies | 14 Jul 2020 | $120M | $1.92B | Salesforce Ventures |
| Tech Companies | 16 Nov 2020 | $110M | $1.50B | Technology Crossover Ventures and Sequoia Capital |
| DataRobot Tech Companies | 9 Dec 2020 | $320M | $2.80B | Altimeter |
| Tech Companies | 10 Jan 2021 | $360M | $2.00B | SoftBank Vision Fund |
| Tech Companies | 1 Jan 2021 | $150M | $1.00B | Goldman Sachs Asset Management |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Olive raise in its Series F round?
Olive raised $106M in its Series F round, announced in Sep 2020.
Who led Olive's Series F round?
General Catalyst and Drive Capital led it, with Ascension, Oak HC/FT and SVB Capital.
What was Olive's valuation at the Series F round?
It was not disclosed.
How does it compare with other Series F rounds in Tech Companies?
30 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $153M, and this round was 70% of the median.
Did Olive raise again after this round?
Yes: a Growth round in Dec 2020 of $226M at $1.50B post-money.