Olio, a platform that links hospital teams with post-acute providers for care collaboration, scored $11 million in Series B funding led by Fulcrum Equity Partners.
Mutual Capital Partners also participated in the round.
WHAT IT DOES
Olio’s care coordination platform allows a hospital’s care team, including doctors and administrators, to obtain information about their patients once they have transitioned into the post-acute setting.
The platform helps clinicians set specialty-specific care goals and funnels data back and forth between healthcare providers and post-acute care settings.
The company will use the funds to expand its product offerings and hasten its go-to-market plans.
“At Olio, our mission is to transform the way healthcare organizations coordinate care,” Ben Forrest, CEO of Olio, said in a statement.
“The continued investment from Fulcrum Equity Partners, combined with the support from Mutual Capital Partners, positions us to scale our impact and drive meaningful change across the industry.”
MARKET SNAPSHOT
In 2019, Olio raised $2.5 million in seed funding. The company did not disclose the individual investors; however, it specified that Innovatemap Ventures was on the list of funders.
The company used the funds to scale its technology, expand across the U.S., and grow its engineering, marketing and customer success teams.
Other companies in the long-term care space include Fujifilm, which last year joined forces with Juntendo Hospital in Japan to develop AI that predicts the risk of falls among outpatients using hospital data.
In 2023, Andromeda Robotics integrated genAI into robotics to transform human-robot interactions by developing empathetic companion robots, targeting the elderly and children in hospitals.
The prototype humanoid robot named Abi is designed to interact with senior residents at aged care facilities.
Enabled by machine vision and Chat GPT-4 AI chatbot, Abi recognizes people, answers questions and tailors conversations based on past interactions.
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