Health insurance company Oscar has raised $225 million in its latest round of funding. Existing investors Alphabet, General Catalyst, Khosla Ventures, Lakestar, and Thrive Capital, renewed their commitments, while new supporters joined the venture, including Baillie Gifford and Coatue.
Oscar, the New York-based health insurance provider, has raised a total of $1.5 billion since its founding in 2012 by Mario Schlosser and Joshua Kushner. It is the first direct-to-consumer health insurance company and has more than 420,000 members across its products. Oscar will use the new funding to continue its mission of simplifying health care while also reaching a $2 billion revenue base by the end of 2020.