Circulo, a U.S.-based insurtech, recently announced it secured $50 million through its Series A funding round, which was co-led by Drive Capital and General Catalyst. Circulo reported it is building the Medicaid insurance company of the future to provide tech-enabled, world-class care to the nation’s sickest and poorest populations.
The company will notably be built on Olive’s technology platform that has been adopted by more than 600 hospitals. Olive will provide automation, intelligence, network tools, and AI co-worker technologies to Circulo as they build the Medicaid insurance company of the future.
“Circulo plans to change that by bringing bold new approaches and Internet-scale technology to more than 75 million members who depend on Medicaid for their coverage.”
Speaking about the company’s development, Sean Lane, CEO of Circulo and Olive, stated:
“Circulo is going to use Olive’s unique platform to build the Medicaid insurance company of the future from scratch, right here in Columbus, Ohio – the emerging insurtech capital of the U.S. There’s no better place to build and grow a high-tech insurance company and there’s no better mission than to do it to serve the country’s most underserved population.”
Circulo plans to add dozens of new roles immediately.