Health Tech Startup Closes Funding Round

Ben Forrest is CEO of Olio.

Carmel-based healthcare tech startup Olio has completed a $2.5 million round of seed funding. The company says it plans to use the money to further scale its technology, expand nationally and add employees.

Olio says its platform digitally connects hospital and physician teams with post-acute providers in order to provide more coordinated care for patients. It aims to give hospitals, physicians and their teams more insight into their patients’ conditions to improve clinical outcomes and lower costs.

The company launched its platform in January and says it is on pace to add approximately 80 jobs in central Indiana by 2020. Some of the jobs that will be added as a result of the new funding will be engineering, marketing and customer success positions.

"With Olio, health systems are able to improve clinical outcomes for their patients, and improve financial performance in value-based healthcare," Ben Forrest, founder and chief executive officer of Olio, said in a news release. "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."

Olio says the oversubscribed round of funding was concentrated in strategic seed investors who "explicitly understand the complexity of the healthcare environment, the challenges ahead within the industry, and the challenge that Olio addresses."

Forrest appeared on Inside INdiana Business with Gerry Dick in October to talk about Olio and its platform. You can watch the full interview below: