Funds bet on the Rivio solution for hospital management

Between December 2025 and February 2026, we announced to the market two of the most significant moves in Brazilian healthcare: raising US$21 million to invest in modernizing hospital management in the country, an industry that has been crying out for help for at least three decades. The progress was driven by two investment rounds, followed by an extension.

The first round was led by Monashees and the other by the American asset manager Valor Capital Group (NY), with additional participation from Endeavor. These are respected funds from Brazil and the United States that believe in the urgency and impact of our mission: to transform healthcare management with artificial intelligence.

It is one of the largest investments ever made in a company less than a year old in the healthcare industry in Latin America, as the newspaper Valor Econômico first reported on December 17, 2025:

Source: Valor Econômico

A month and a half later, we were already able to announce the arrival of Positive Ventures. The fund, a benchmark in impact investing, focuses on companies with the potential to use technology to solve today’s most challenging social and environmental problems.

The new funding, of US$1 million, is an extension of the Series A, but the most important thing about this move is that Positive Ventures’ investment reinforces our mission of saving more lives with the use of AI.

Reducing preventable financial losses in the healthcare system, by attacking structural inefficiencies that affect hospitals and payers, allows the hospital to improve care for those who need it most: the patient.

“We have strong conviction in the Rivio team, in Silvio Frison’s and Ricardo Sales’s ability to execute, and in this intentional impact, which is fundamental for us,” said Fábio Kestenbaum, founding partner of Positive Ventures, to Bloomberg Linea, which reported the news exclusively on February 4:

Source: Bloomberg Linea

Hospitals’ financial losses

Founded with the purpose of transforming hospital management through artificial intelligence, our goal is to be recognized, as quickly as possible, as the leading operating system for healthcare in Latin America. We want to take care of hospitals’ entire administrative base, starting with the revenue cycle, one of the most pressing and corrosive pain points for healthcare institutions’ cash flow.

In 2024 alone, the year before our company was founded, Brazilian hospitals had R$ 5.8 billion in payments withheld for services provided because of these complexities. This unpredictability chokes hospitals’ cash flow and limits their ability to invest in patient care, as denounced by the National Association of Private Hospitals (Anahp):

Source: Saúde Business

How AI changes the picture

Our artificial intelligence platform is starting to completely change this picture by combining AI agents that audit claims, identify inconsistencies, integrate payer rules, recommend corrections and automate entire stages of billing.

The goal of using this technology is to make sure hospitals receive 100% of what they are entitled to, as quickly as possible and with maximum predictability. Today, the volume of rules, contracts and updates is so large that no manual process can keep up, creating an endless operational crisis in management.

An unprecedented business model

Although recent and still evolving, our technology is already being implemented in more than 50 hospital units across the country, including some of the largest and best-known healthcare brands in Latin America. With the Rivio solution, partner hospitals managed to raise hospital revenue by about 5% in the very first month of operation, as highlighted in Exame’s report of January 15, 2026.

The rapid expansion of our solution is explained by the fact that we broke away from the traditional model of revenue cycle management software. We offer a complete service, covering everything from auditing medical claims to payment, including denial appeals. All with an unprecedented differentiator: a performance guarantee. If the hospital is not reimbursed for 100% of the amounts it should receive from health plans, we cover the difference.

The operational and financial risk shifts from the hospital to the company because the healthcare market did not need yet another piece of software, but a partner that would solve these difficulties end to end. By taking on the financial risk, we completely repositioned the relationship. The hospital gains predictability and can focus on patient care, while our team of engineers and technical specialists, supported by AI agents, takes care of the operation.

Founders with a track record of disruption

Our company is led by two entrepreneurs used to transforming markets who are now bringing that experience to the hospital industry.

Ricardo Sales is an engineering graduate of ITA and holds a master’s degree from Stanford GSB. He worked at global funds investing in companies such as XP, QuintoAndar and Hotmart. He then founded Isaac, a fintech that revolutionized schools’ financial management and was acquired by Arco Educação for US$150 million. Ricardo also created Primeira Chance, a social project that has already helped hundreds of low-income students get into international universities.

Silvio Frison, who also holds a master’s degree from Stanford, spent more than a decade in Silicon Valley. He founded and sold the companies Pense Imóveis and Busca Carros, and then created Serasa Consumidor, which became the world’s largest credit and debt marketplace, with more than 90 million users. In 2024, he led Projeto Drenar, an emergency initiative that used agricultural pumps to relieve the floods in Rio Grande do Sul.