A Carmel, Indiana-based startup named Olio has raised $2.5 million in seed funding, according to a news release. The company offers a collaboration platform to digitally connect hospital and physician teams with post-acute providers.
The startup said the money in the oversubscribed round came from “strategic seed investors.” Olio confirmed Indianapolis-based Innovatemap Ventures invested in the $2.5 million round.
The company plans on using the funding to scale its technology, expand across the country and grow its marketing, engineering and customer success teams. It intends to add about 80 jobs to the central Indiana area by 2020.
The goal of the Indiana startup’s HIPAA compliant platform is to ensure patients get more coordinated care. The tool, which includes dashboards, enables hospitals and doctors to communicate with each other in real time and gain insight into their patients’ conditions across the post-acute landscape, such as skilled nursing facilities and home health agencies.
Founded in 2017, Olio began as a consulting firm for improving alignment between acute and post-acute providers. But over time, it has morphed into what it is today.
“With Olio, health systems are able to improve clinical outcomes for their patients, and improve financial performance in value-based healthcare,” Olio founder and CEO Ben Forrest said in a statement. “With this funding, we’ll further advance our technology that is enabling health systems and physicians to provide the highest quality of care as patients transition to care facilities outside of the hospital’s walls.”
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The startup’s clients include Midwest healthcare providers such as Central Indiana Orthopedics. It is also in the process of implementing its technology at other health systems and with additional physicians and post-acute providers.
Olio is one of the numerous organizations in Indiana bringing IT to healthcare.
Digital Health Solutions LLC, an Indianapolis-based startup, has a pediatric decision support product dubbed Child Health Improvement through Computer Automation — or CHICA for short.
Another Indianapolis business, Springbuk, offers a health analytics platform aimed at assisting employers, brokers, wellness vendors and clinics so they can view data on the health of their population, track changes and see the cost risk.
Photo: aurielaki, Getty Images
