CirraGroup, a Lafayette, Louisiana-based provider of a crowdsourced medical debt settlement solution, closed a $500k Series B equity funding.
The Lafayette General Foundation’s Health Innovation Fund* made the investment.
The company intends to use the funds to expand and commercialize its solution.
Led by and Mark Fontenot, CEO, and Mike Ducote, COO, CirraGroup provides a cloud-based fintech medical debt settlement solution that leverages crowdsourcing to assist patients and providers with resolving financial obligations in a secure and compliant environment.
*Lafayette General Foundation’s Healthcare Innovation Fund was capitalized through a $1.5M investment from Lafayette General Health (LGH) and $1M from the Louisiana Seed Capital Program under the Louisiana Economic Development Corporation (LEDC). LEDC allows investment funds such as HIF to leverage the Federal Treasury Department State Small Business Credit Initiative funds with private funds to invest in seed and/or early stage businesses located in Louisiana.