Olli Health, an AI-powered home health coding and quality review platform, has secured $10 million in Series A funding, the company tells Home Health Care News exclusively.
Industry Ventures led the round, with participation from Cannage Capital, Equitage Ventures, Tau Ventures, and Arkitekt Ventures. Olli previously raised $2.9 million in a seed funding round, bringing the company's total funding to $13 million.
“With Industry Ventures' exciting support, we are adding clinical documentation to our proven coding and quality review services, creating an integrated platform that connects the points of care through final coding and quality review, ensuring maximum reimbursement accuracy and compliance every step of the way,” Eric Stege, CEO and founder of Olli Health, said in a statement.
New documentation capabilities are designed to guide clinicians through OASIS assessments and include real-time quality checks and coding intelligence designed to maximize reimbursement, maintain regulatory compliance, and reduce clinician workload.
Olli also plans to use the capital injection to accelerate growth, the company said. Founded in 2024 and headquartered in Madison, Wis., the company currently serves more than 100 home health care companies.
San Francisco-based Industry Ventures manages more than $8 billion in assets and invests in companies from pre-seed to pre-IPO, the firm said.
“Olli Health is gaining significant traction for its managed coding and quality review services,” said Fanni Fan, Partner at Industry Ventures. “The combination of deep domain knowledge and advanced AI positions Olli as the future leader in home health revenue cycle operations.”
Olli CEO Steege previously told HHCN that the company aims to make its platform “EHR agnostic” and that the company's auto-coding and auto-review algorithms achieve five-minute turnaround times with “better-than-human” accuracy.
The company claims it has reduced delivery times by more than 75% and cut quality review costs in half.
Murray, Utah-based home health care provider First Choice Home Health & Hospice found nearly 75% cost savings during a 30-day pilot of Olli, said Chief Operating Officer Beau Sorensen.
“We're facing wage pressures, especially for registered nurses, so being able to direct some of that funding to them was important,” Sorensen previously told HHCN. “Moving funds from cost centers to revenue generation centers has been very helpful.”
Other home care companies have also received significant investor interest recently.
In October, Zingage, an AI-powered home care delivery platform, raised $12.5 million in a seed funding round. That same month, Arya Health, an AI company with a platform designed to help home health and post-acute care providers automate scheduling, compliance and other administrative functions, raised $18.2 million in a Series A round.
