Filed under Health · 2023
Olive AI
2012 - 2023, 12 years old
Robotic process automation for hospital back offices.
Olive sold hospitals on the idea of an AI worker that could automate prior auth, claims, and revenue cycle tasks. The pitch outran the product. Customers reported that what looked like AI was often scripted RPA glued together with services work, and savings did not match the marketing. Once procurement teams compared notes, renewals dried up. Olive sold off two product lines in 2023 and shut the rest of the company in October that year.
- Founded
- 2012-04
- Shut down
- 2023-10-31
- Funding raised
- $902M
- Years alive
- 12
- Founders
- Sean Lane