San Francisco – July 9, 2021 – Cooley advised digital health automation company Olive on its $400 million funding round, which brings its valuation to $4 billion. Lawyers Peter Werner and Melissa Boyd led the Cooley team advising Olive.
Vista Equity Partners and Base10 Partners’ Advancement Initiative led the round, which also included participation from existing investor Tiger Global Management. Olive will use the new funding to develop more products and hire additional employees, with a goal of more than doubling its 800-person workforce this year.
“We’ve talked about the trillion dollars of waste in healthcare – our goal is to shift those resources to other areas,” Sean Lane, CEO of Olive, said in a news release. “We’re looking into global expansion and the applicability of our products across the whole planet.”
Olive is addressing healthcare’s most burdensome issues through automation – delivering hospitals, health systems and payers increased revenue, reduced costs and increased capacity. Olive is driving connections to shine new light on healthcare processes, improving operations today so everyone can benefit from a healthier industry tomorrow.
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