Rivio

Both founders have a background in entrepreneurship and graduated from Stanford University. Silvio Frison previously founded and led Serasa Consumidor, a large credit and collections marketplace. He also established digital marketplaces for vehicles and real estate that were later sold to major companies like Santander. Ricardo Sales co-founded Isaac, a fintech company for the education sector in Latin America, which was acquired by Arco. His experience also includes serving as Vice President at General Atlantic, where he led investments in several technology companies.

Rivio's business model involves managing the financial and administrative aspects for its hospital clients and guaranteeing their revenue, even in cases of non-payment by health insurance plans. The company earns revenue through a commission, or "take rate," on the hospital's total billing. The platform targets healthcare providers, such as hospitals and clinics that accept health insurance, have an existing ERP system, and generate over R$1 million in monthly revenue from health plans.

The company's AI-powered platform automates the entire revenue cycle, from auditing to billing and post-billing processes. Its features include intelligent auditing (preventive, concurrent, and retrospective) by cross-referencing electronic medical records with billing accounts to prevent losses and claim denials (glosses). The system automates the submission of billing files (XML) to insurance operators and manages the claims appeal process using AI to analyze denials and generate evidence-based appeals. It also helps uncover hidden revenue by identifying procedures and materials used but not billed. Clients can monitor the entire process through a centralized dashboard.

By December 2025, Rivio had secured a $20 million funding round from investors including Valor Capital, Monashees, and Endeavor Catalyst. This was followed by a strategic investment of US$1 million (R$5.3 million) from Positive Ventures in February 2026. As of early 2026, the company was operating in over 80 hospital units in Brazil.