Briefing: Insurtech Circulo Launches With $50M, Robinhood CEO Testifies, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Insurtech upstart Circulo launches with $50M

Columbus, Ohio-based Circulo, a startup looking to build a next-generation Medicaid insurance company, launched with $50 million in initial funding.

Drive Capital, General Catalyst, Oak HC/FT, and SVB Capital were among the firms providing the financing for the company. Sean Lane, CEO of AI-focused healthcare startup Olive, will also serve as chief executive of Circulo.

Circulo will be built on Olive’s technology platform, which has been adopted by over 600 hospitals.

— Joanna Glasner

Tech news

Robinhood CEO testifies to Congress: Vlad Tenev, CEO of trading platform Robinhood, testified before a U.S. House of Representatives Committee on Financial Services hearing in the wake of last month’s GameStop trading frenzy. Also testifying was Keith Gill, a Reddit user and YouTube streamer known as Roaring Kitty who had played a key role in boosting the stock.

— Joanna Glasner

Funding rounds

Podimo raises $13.6M: Podimo, a Copenhagen-based open podcast platform that offers a subscription service for creators, has reportedly raised €11.2 million (US$13.6M) in a funding round led by investment firm Chr. Augustinus Fabrikker.

— Joanna Glasner

Illustration: Dom Guzman