Online health insurance platform Oscar Health has raised $375m, just months after closing a $165m funding round.
The new investment has been made by Alphabet, the parent company of Google.
Alongside the investment, former YouTube CEO Salar Kamangar will join Oscar’s board of directors.
US-based Oscar Health provides individuals, families, businesses and brokers with an online insurance platform. The company implements real-time analytics to help customers get the best healthcare products.
Through the app, users can search between a range of different coverage plans which suit different consumer needs and price ranges. All plans offer a concierge team to support health queries, step-tracking rewards, appointment booking, free annual physicals and health benefits like flu shots and various vaccinations.
Oscar Health co-founder and CEO Mario Schlosser said, “Oscar will accelerate the pursuit of its mission: to make our health care system work for consumers. We will continue to build a member experience that lowers costs and improves care, and to bring Oscar to more people — deepening our expansion into the individual and small business markets while entering a new business segment, Medicare Advantage, in 2020.”
Earlier in the year, the company raised a $165m investment round which was raised to support its expansion plans and further development of its product. The round was led by Founders Fund, and Brian Singerman, with participation also coming from 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Thrive Capital, among others.
Insurance agency Haven Life recently acquired the online renters and term life insurance platform Quilt. The merger sees Quilt transition into developing new products which will rethink the buying experience for longevity products.
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