Circulo receives $50m to support the creation of its platform

Circulo, a new Medicaid Manage Care insurance platform, has lunched with the support of a $50m funding round.

The platform has been designed an built by Olive, an AI-powered healthcare platform, and will use its technology. Olive will supply the Circulo solution with automation, intelligence, network tools and AI co-worker technologies.

Drive Capital, General Catalyst, Oak HC/FT and SVB Capital supplied the $50m investment to support the platform development.

Circulo and Olive CEO Sean Lane said, “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, which is based in Ohio, is looking to hire a number of staff.

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