Circulo, a Columbus, Ohio-based insurtech company, raised $50M in Series A funding.
The round was led by Drive Capital and General Catalyst with participation from Oak HC/FT and SVB Capital.
Circulo is building a next generation Medicaid insurance company providing tech-enabled care to the nation’s sickest and poorest populations.
The company’s solution, built on Olive’s technology platform, which provides automation, intelligence, network tools, and AI co-worker technologies, has been adopted by over 600 hospitals.
Drive Capital, General Catalyst, Oak HC/FT, and SVB Capital are all investors in Olive and have joined together to fill out Circulo’s large inaugural equity financing. They also return as backers of
Led by Sean Lane, who will serve as CEO of both Olive and Circulo, the company plans to add dozens of new roles immediately.