Oscar Health Nabs $140M Top-Up Round
The New York-based health insurance startup Oscar Health has closed an extra $140 million funding round led by the investment firm Tiger Global, with participation from Dragoneer, Baillie Gifford, Coatue, Khosla Ventures, Lakestar, Reinvent, and Founders Fund.
Oscar is closing 2020 with the $140 million round amid reports that the company is aiming for a public listing next year.
The new round brings the total amount of funding raised by Oscar to over $1.6 billion. The valuation that came with it wasn’t disclosed.
Oscar says it has over 420,000 people signed up on its health insurance platform across 15 US states. Since its founding in 2012, the company has sold insurance plans digitally, seeking to upend the traditional health insurance industry with a technological platform.
Oscar sells different tiers of insurance plans, both for individuals and families, offering benefits including a network of physicians and hospitals to choose from, 24/7 telemedicine visits, and direct scheduling with health providers.
Oscar was founded eight years ago by a group of entrepreneurs including Joshua Kushner, who also co-founded the multi-billion dollar venture capital firm Thrive Capital. Kusher serves as the company’s Executive Chairman while another co-founder, Mario Schlosser, serves as its CEO.