Oscar Health Insurance Lands $80M at $800M Valuation
May 16, 2014
Oscar Health Insurance
Oscar Health Insurance has secured $80 million in new funding led by Formation 8, with participation from Founders Fund, General Catalyst Partners, Khosla Ventures, Thrive Capital and individual investors, valuing the company at a reported $800 million. Oscar, which currently operates only in the state of New York, has an estimated 16,000+ customers who pay an average of $4,500 in annual fees, putting its revenue at $72 million. The reported valuation more than doubles the estimated $340 million the company was worth after a $35 million financing round this past January. The new capital brings Oscar's total to-date funding to about $155 million. Oscar will use the proceeds to hire additional talent and expand its offering into new regions.