Olive AI valued at $4B after raising another $400M in VC, shattering state records

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Olive AI Inc. is valued at $4 billion after raising $400 million – the largest VC round at the highest valuation in Ohio history.

The Columbus maker of machine learning software, which increased its customer base by 50% to 900 U.S. hospitals over recent months, beats out its sibling in the Drive Capital LLC portfolio: Root Inc. held both records with a $350 million funding round at $3.65 billion valuation in September 2019. The digital insurer went on to the state’s largest-ever IPO last fall.

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Story excerpt provided by Columbus Business First.

Written by Carrie Ghose.

Originally published July 1, 2021.

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