Loading audio file, please wait.
Indianapolis-based health-tech company Olio Health Inc. has closed on an $11 million round of Series B funding, the company announced Monday.
The funding was led by Atlanta, Georgia-based Fulcrum Equity Partners, with participation from Cleveland-based Mutual Capital Partners. Both of these firms are repeat investors in Olio: Fulcrum led Olio’s $13 million Series A funding round in 2022, which Mutual Capital also participated in.
Olio offers a software platform that allows health systems, physician groups and insurers to coordinate patient care across different settings, including skilled nursing, home health, behavioral health, long-term care and more.
As one example, a hospital could use Olio to track a patient’s progress after that patient has been released to a skilled nursing facility for recovery. The nursing facility could also use the platform to communicate with the patient’s physician or the hospital with any concerns or problems.
“Olio is transforming a manual, error-prone, and unscalable discharge process,” Fulcrum partner Philip Lewis said in a written statement. “With real-time patient status across the care continuum, providers can truly drive performance.”
Ben Forrest and Eddie Keever co-founded Olio in February 2018. Forrest serves as the company’s CEO and Keever is its vice president of product integration. The company told IBJ it has fewer than 50 employees, but did not provide a specific number. Of those employees, the company said, 90% live locally and the others work remotely.
“At Olio, our mission is to transform the way healthcare organizations coordinate care,” Forrest said in a written 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.”
Olio also secured a $2.5 million round of seed funding in March 2019. To date, the company has raised a total of $31 million.
Story Continues Below
