Funding round
Olive Series H+
Reported as "Series H"
Olive, which works in healthcare revenue cycle automation solutions in United States, raised $400M in a Series H+ round announced on 1 Jul 2021, led by Vista Equity Partners and Base10 Partners, at a $4.00B post-money valuation. 3 firms took part, 2 of them already investors. It is Olive's sixth venture round on record; the one before was a Growth in Dec 2020.
$400M
Amount raised
$4.00B
Post-money valuation
$3.60B pre-money
3
Investors
2 leads
2.7x
Step-up from the Growth
$1.50B in Dec 2020
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Olive at $4.00B after the new money, 2.7 times the $1.50B of its Growth (Dec 2020). The $400M bought investors about 10% of the company. It came 7 months after Olive's Growth. It is 49% of the $813M Olive has raised in the venture rounds on record. No later venture round is on record for Olive.
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 1 Dec 2020, led by Tiger Global $226M$1.50B post-money
- Series H+ this round 1 Jul 2021, led by Vista Equity Partners and Base10 Partners $400M$4.00B post-money
Investors
Who put money in
Vista Equity Partners and Base10 Partners led the round with 1 other firm. Vista Equity Partners and Tiger Global had backed Olive before.
Lead investors
- Vista Equity Partners backs 43 venture-backed companies existing investor
- backs 108 venture-backed companies new investor
Also in the round
- Tiger Global backs 391 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
15 Series H+ rounds in Tech Companies within a year either side disclosed an amount; the median was $200M, and this round was 2.0 times the median. The closest in time, other companies' Series H+ rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Databricks Tech Companies | 31 Aug 2021 | $1.60B | $38.00B | Morgan Stanley |
| DailyHunt Tech Companies | 11 Aug 2021 | $451M | $3.00B | not named |
| VerSe Tech Companies | 11 Aug 2021 | $450M | $3.00B | Siguler Guff |
| Discord Tech Companies | 9 Sep 2021 | $500M | $15.00B | Dragoneer Investment Group |
| VerSe Tech Companies | 8 Feb 2021 | $100M | not disclosed | Qatar Investment Authority and Glade Brook |
| Tech Companies | 1 Jan 2021 | $10M | not disclosed | not named |
| DailyHunt Tech Companies | 31 Dec 2020 | $100M | $1.01B | Alpha Wave Global |
| Tech Companies | 8 Mar 2022 | $200M | $600M | Blackstone |
Sources
Where this comes from
Reported by 7 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 Series H+ round?
Olive raised $400M in its Series H+ round, announced in Jul 2021.
Who led Olive's Series H+ round?
Vista Equity Partners and Base10 Partners led it, with Tiger Global.
What was Olive's valuation at the Series H+ round?
$4.00B post-money ($3.60B pre-money).
How does it compare with other Series H+ rounds in Tech Companies?
15 Series H+ rounds in Tech Companies within a year either side disclosed an amount; the median was $200M, and this round was 2.0 times the median.