Oscar Health just raised $375 million from Alphabet
Oscar Health just got a cool $375 million from Google’s parent company to bring its tech-backed health insurance plans to more people.
In total, the company has now raised more than $1 billion. Its last-reported valuation was $3.2 billion.
Co-founded in 2012 by Josh Kushner, whose brother Jared a senior adviser to President Donald Trump, Oscar Health is a health-insurance startup that got its start operating on the Affordable Care Act’s insurance exchanges. The goal is to be a more consumer-friendly insurance option by integrating technology. It also works with small businesses to provide health insurance.
In 2019, Oscar plans to be in nine states, including Florida, Arizona and Michigan.
Oscar’s plan to move into the Medicare Advantage market will put it up against startups like Clover Health and Devoted Health.