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Oscar Health Nabs $225 Million Round

Oscar Health CEO Mario Schlosser.

Photo credit: Noam Galai/Getty Images for TechCrunch, under Creative Commons license

New York-based health insurance startup Oscar Health has announced it's raised $225 million in new funding from a host of investors, including Alphabet, Khosla Ventures, General Catalyst, Thrive Capital, all existing investors in Oscar, alongside new investors Baillie Gifford and Coatue. The new funding adds up the total amount of funding that Oscar has raised since its inception to $1.5 billion. The valuation that came with this round isn't known. Oscar, meanwhile, says it's on track for $2 billion in annual sales.

Oscar Health, which was founded in 2012, sizeably expanded this year. The company, which offers health insurance products, now has more than 420,000 insured members. Oscar is currently available in 15 states across the U.S.





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