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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13G
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UNDER THE SECURITIES EXCHANGE ACT OF 1934
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(Amendment No. 3)
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Root, Inc. (Name of Issuer) |
Class A Common Stock (Title of Class of Securities) |
77664L207 (CUSIP Number) |
05/21/2025 (Date of Event Which Requires Filing of this Statement) |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |
 Rule 13d-1(b)
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| Rule 13d-1(c)
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 Rule 13d-1(d)
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SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Drive Capital Overdrive Fund I, L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
99,687.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.7 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Note to Row 5: 99,687 shares, except that Drive Capital Overdrive Fund I (GP), LLC ("DCOF I GP"), the general partner of Drive Capital Overdrive Fund I, L.P. ("DCOF I"), may be deemed to have sole power to vote these shares, Drive Capital, LLC ("DC"), the manager of DCOF I GP, may be deemed to have sole power to vote these shares, and Christopher Olsen ("Olsen"), the manager of DC, may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 99,687 shares, except that DCOF I GP, the general partner of DCOF I, may be deemed to have sole power to dispose of these shares, and Olsen, the sole member of the investment committee of DCOF I GP, may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Drive Capital Overdrive Fund I (TE), L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
48,201.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.4 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Note to Row 5: 48,201 shares, except that DCOF I GP, the general partner of Drive Capital Overdrive Fund I (TE), L.P. ("DCOF I TE"), may be deemed to have sole power to vote these shares, DC, the manager of DCOF I GP, may be deemed to have sole power to vote these shares, and Olsen, the manager of DC, may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 48,201 shares, except that DCOF I GP, the general partner of DCOF I TE, may be deemed to have sole power to dispose of these shares, and Olsen, the sole member of the investment committee of DCOF I GP, may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Drive Capital Overdrive Ignition Fund I, L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
1,406.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.0 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person: Note to Row 5: 1,406 shares, except that DCOIF I GP, the general partner of Drive Capital Overdrive Ignition Fund I, L.P. ("DCOIF I"), may be deemed to have sole power to vote these shares, DC, the manager of DCOF I GP, may be deemed to have sole power to vote these shares, and Olsen, the manager of DC, may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 1,406 shares, except that DCOF I GP, the general partner of DCOIF I, may be deemed to have sole power to dispose of these shares, and Olsen, the sole member of the investment committee of DCOF I GP, may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Drive Capital Overdrive Fund I (GP), LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
149,294.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
1.1 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person: Note to Row 5: 149,294 shares, of which 99,687 shares are directly owned by DCOF I, 48,201 shares are directly owned by DCOF I TE and 1,406 shares are directly owned by DCOIF I. DC, the manager of DCOF I GP, may be deemed to have sole power to vote these shares, and Olsen, the manager of DC, may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 149,294 shares, of which 99,687 shares are directly owned by DCOF I, 48,201 shares are directly owned by DCOF I TE and 1,406 shares are directly owned by DCOIF I. Olsen, the sole member of the investment committee of DCOF I GP, may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Drive Capital, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
149,294.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
1.1 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person: Note to Row 5: 149,294 shares, of which 99,687 shares are directly owned by DCOF I, 48,201 shares are directly owned by DCOF I TE and 1,406 shares are directly owned by DCOIF I. DC, the manager of DCOF I GP, may be deemed to have sole power to vote these shares, and Olsen, the manager of DC, may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
DC I Investment, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
0.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.0 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person: Note to row 6: See response to row 5.
Note to row 8: See response to row 7.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Dwight H. Hibbard Family Trust f/b/o Christopher Olsen - Exempt | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
OHIO
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
6,869.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
0.1 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person: Note to Row 5: 6,869 shares, except that Olsen, the sole trustee of Dwight H. Hibbard Family Trust f/b/o Christopher Olsen - Exempt (the "Trust"), may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 6,869 shares, except that Olsen, the sole trustee of the Trust, may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Purple Dot, LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
OHIO
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
151,569.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
1.1 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person: Note to Row 5: 151,569 shares, except that Olsen, the managing member of Purple Dot, LLC ("Purple Dot"), may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 151,569 shares, except that Olsen, the managing member of Purple Dot, may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| CUSIP No. | 77664L207 |
| 1 | Names of Reporting Persons
Christopher Olsen | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
| ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
UNITED STATES
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
307,732.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
| ||||||||
| 11 | Percent of class represented by amount in row (9)
2.3 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person: Note to Row 5: 307,732 shares, of which 99,687 shares are directly owned by DCOF I, 48,201 shares are directly owned by DCOF I TE, 1,406 shares are directly owned by DCOIF I, 6,869 shares are directly owned by the Trust and 151,569 shares are directly owned by Purple Dot. Olsen is the manager of DC, which is the manager of DCOF I GP, which is the general partner of DCOF I, DCOF I TE and DCOIF I; Olsen is the trustee of the Trust; and Olsen is the managing member of Purple Dot, and may be deemed to have sole power to vote these shares.
Note to row 6: See response to row 5.
Note to Row 7: 307,732 shares, of which 99,687 shares are directly owned by DCOF I, 48,201 shares are directly owned by DCOF I TE, 1,406 shares are directly owned by DCOIF I, 6,869 shares are directly owned by the Trust and 151,569 shares are directly owned by Purple Dot. Olsen is the sole member of the investment committee of DCOF I GP, which is the general partner of DCOF I, DCOF I TE and DCOIF I; Olsen is the trustee of the Trust; and Olsen is the managing member of Purple Dot, and may be deemed to have sole power to dispose of these shares.
Note to row 8: See response to row 7.
Note to Row 11: Based on 13,618,876 shares of Class A Common Stock outstanding as of July 30, 2025, as reported by the Issuer on its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SCHEDULE 13G
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| Item 1. | ||
| (a) | Name of issuer:
Root, Inc. | |
| (b) | Address of issuer's principal executive offices:
80 E. Rich Street, Suite 500 Columbus, OH, 43215 | |
| Item 2. | ||
| (a) | Name of person filing:
This Schedule is filed by Drive Capital Overdrive Fund I, L.P. ("DCOF I"), a Delaware limited partnership, Drive Capital Overdrive Fund I (TE), L.P. ("DCOF I TE"), a Delaware limited partnership, Drive Capital Overdrive Ignition Fund I, L.P. ("DCOIF I"), a Delaware limited partnership, Drive Capital Overdrive Fund I (GP), LLC ("DCOF I GP"), a Delaware limited liability company, Drive Capital, LLC ("DC"), a Delaware limited liability company, DC I Investment LLC ("DC I Investment"), a Delaware limited liability company, Dwight H. Hibbard Family Trust f/b/o Christopher Olsen - Exempt (the "Trust"), a trust established under the laws of the state of Ohio, Purple Dot, LLC ("Purple Dot"), an Ohio limited liability company, and Christopher Olsen ("Olsen"), an individual. The foregoing entities and individuals are collectively referred to as the "Reporting Persons." | |
| (b) | Address or principal business office or, if none, residence:
The address for each of DCOF I, DCOF I TE, DCOIF I, DCOF I GP, DC, DC I Investment, Purple Dot and Olsen is:
629 N. High Street, 6th Floor
Columbus, Ohio 43215
The address for the Trust is:
215 N Parkview Avenue
Columbus, Ohio 43209 | |
| (c) | Citizenship:
See Row 4 of cover page for each Reporting Person. | |
| (d) | Title of class of securities:
Class A Common Stock | |
| (e) | CUSIP No.:
77664L207 | |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |
| (a) | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
| |
| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution: | |
| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
| |
| Item 4. | Ownership | |
| (a) | Amount beneficially owned:
See Row 9 of cover page for each Reporting Person. | |
| (b) | Percent of class:
See Row 11 of cover page for each Reporting Person. | |
| (c) | Number of shares as to which the person has:
| |
| (i) Sole power to vote or to direct the vote:
See Row 5 of cover page for each Reporting Person. | ||
| (ii) Shared power to vote or to direct the vote:
See Row 6 of cover page for each Reporting Person. | ||
| (iii) Sole power to dispose or to direct the disposition of:
See Row 7 of cover page for each Reporting Person. | ||
| (iv) Shared power to dispose or to direct the disposition of:
See Row 8 of cover page for each Reporting Person. | ||
| Item 5. | Ownership of 5 Percent or Less of a Class. | |
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Ownership of 5 percent or less of a class
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. | |
Not Applicable
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. | |
Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
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| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
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| Item 10. | Certifications: |
Not Applicable
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| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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Exhibit Information
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The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Class A Common Stock of the Issuer shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G.
Date: August 14, 2025
DRIVE CAPITAL OVERDRIVE FUND I, L.P.
By:DRIVE CAPITAL OVERDRIVE FUND I (GP), LLC
Its:General Partner
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Managing Member
DRIVE CAPITAL OVERDRIVE FUND I (TE), L.P.
By:DRIVE CAPITAL OVERDRIVE FUND I (GP), LLC
Its:General Partner
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Managing Member
DRIVE CAPITAL OVERDRIVE IGNITION FUND I, L.P.
By:DRIVE CAPITAL OVERDRIVE FUND I (GP), LLC
Its:General Partner
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Managing Member
DRIVE CAPITAL OVERDRIVE FUND I (GP), LLC
By:/s/ Christopher Olsen
Name:Chritopher Olsen
Title:Managing Member
DRIVE CAPITAL, LLC
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Manager
DC I INVESTMENT, LLC
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Managing Director
Dwight H. Hibbard Family Trust f/b/o Christopher Olsen - Exempt
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Trustee
Purple Dot, LLC
By:/s/ Christopher Olsen
Name:Christopher Olsen
Title:Managing Member
CHRISTOPHER OLSEN
By:/s/ Christopher Olsen
Name:Christopher Olsen |