The NY based health insurance startup, Oscar, was started by Thrive Capital's, Josh Kushner. The startup secured $145m on a $1.5b valuation. This only in 16 months!
Sixteen months after going live, the insurance company Oscar has joined the elite group of start-ups known as unicorns, or those with billion-dollar valuations. The company plans to announce on Monday that it has raised $145 million from a group led by the billionaire Peter Thiel and his Founders Fund venture capital firm. Other investors in the round included the Hong Kong billionaire Li Ka-shing’s Horizon Ventures, the Wellington Management Company and Goldman Sachs. The investment values Oscar at about $1.5 billion, more than three times its valuation last January. It’s a heady rise for Oscar, which in contrast to technology darlings like Uber and Airbnb focuses on the less flashy business of health insurance. Unlike most other insurers, it operates only in New York State for now.