Oscar Health, a New York-based provider of health insurance plans, raised $165m in funding.
The round, which valued the company at $3.2 billion, was led by Founders Fund with participation from 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Thrive Capital, among others.
The company will use the funds to continue to to deepen investment in technology platform and accelerate expansion in other cities of the USA, at a rate of 4-5 cities every year, in individual, small group, and other market segments.
Co-founded by Mario Schlosser and Joshua Kushner, Oscar Health is an innovative health insurance company which offers individual health plans available in New York, Texas, and California. Members can get access to free 24/7 telemedicine visits through doctors on call, available both through Android or iOS and the web app.
The service also assigns each of its members to a concierge team which includes three care guides and a registered nurse that handle both traditional customer service questions as well as coordination of clinical care.