Olive Launches Olive Ventures, an In-House Venture Studio
U.S.A., Aug. 26, 2021 /PRNewswire/ -- Until now, entrepreneurs were forced to battle long sales cycles, security audits and compliance requirements — without ever having the chance to complete a pilot. Today, Olive, the automation company creating the Internet of Healthcare, launched Olive Ventures, a strategic in-house studio focused on creating revolutionary companies and specialized products for the healthcare industry.
Olive Ventures gives early-stage entrepreneurs access to Olive’s platform, offering them a secure, compliant technology environment designed to rapidly validate, deploy, distribute and commercialize digital health innovations. With strong ideas and funding, founders can scale rapidly to offer new capabilities directly to hundreds of organizations using Olive -- drastically shrinking the timeline from initial build to revenue generation.
“We’re bridging the ‘valley of death’ in the healthcare startup landscape,” said Sean Lane, CEO of Olive. “I’ve seen far too many great ideas be shot down without ever completing a pilot project. We’re charting a new path for digital health innovators by killing the traditional pilot and rewriting the entire process to be better, smarter and faster.”
Founders and entrepreneurs are supported through a regimented studio process from start to finish. These visionaries become focused solely on ideating, validating and building their companies. When a new company is ready for spin out, the Olive Ventures team expands the solution for broader investment opportunities to increase the company’s scale and the product’s speed of adoption.
Among the first companies being built by Olive Ventures are:
- Violet, a new kind of bank aimed at giving patients peace of mind against large medical bills. Violet has been working within the Olive Venture Studio to optimize its platform and model before open enrollment.
- Rotera, an AI consulting and custom development company for health systems, payers and healthcare vendors. The first company built in the Olive Venture Studio, Rotera is already live and helping thousands of healthcare workers nationwide.
“I continue to pinch myself at the incredible opportunity I’ve been given with Olive Ventures. Whether it’s the expert counsel, powerful tech stack, access to a rich distribution network, or capital introductions -- I truly get to stand on the shoulders of giants,” said Josh Holley, CEO of Violet. “Violet’s business model is based on aligning incentives with our customers. While traditional banks make money from fees and interest, we become more financially healthy as our customers do. That made Olive’s customer-centric approach a natural fit for us, and we couldn’t be happier to be working with Olive to make healthcare better together.”
“After 15 years in healthcare IT, I’m proud to build the first business in what will become an ecosystem of companies built on Olive,” said Erick McKesson, CEO of Rotera. “Through Olive Ventures, we brought an idea to market inside a month that will positively impact thousands of healthcare workers in our first year alone. When it comes to creating a company, the time to market and immediate impact we can have with Olive is truly unmatched in healthcare.”
Digital health solutions created on the Olive platform will be the fastest-to-market and strongest for revenue generation. To learn more about Olive Ventures, visit https://oliveai.com/ventures.
Olive is the automation company creating the Internet of Healthcare. The company is addressing healthcare’s most burdensome issues through automation -- delivering hospitals, health systems and payers increased revenue, reduced costs, and improved efficiency. People feel lost in the system today and healthcare employees are essentially working in the dark due to outdated technology that creates a lack of shared knowledge and siloed data. Olive is driving connections to shine new light on healthcare processes, improving operations today so everyone can benefit from a healthier industry tomorrow. To learn more about Olive, visit oliveai.com.
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