Olive AI Inc. is selling off its remaining product lines and shutting down, just over two years after the unicorn raised the largest venture capital round at the highest valuation in Ohio history.
The company making AI-powered software to automate hospital administrative tasks has raised a cumulative $848 million in venture capital since its 2013 founding. It was one of the first companies in the portfolio of Columbus VC firm Drive Capital LLC, which declined to comment through a spokesman.
“With the sale of our core business units, Olive will wind down the remainder of its business,” Olive said in a brief statement posted on its website Tuesday. “We are deeply grateful to our customers, our team members, and our partners who have made this journey possible. Thank you.”
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