Oscar Announces $80 Million Fundraise

Oscar, the US based health insurance company has recently announced an $80 million fundraise, taking its assessed price to nearly $1 billion.

The company is based in New York City and had started up in January of this year, after founders Joshua Kushner, Kevin Nazemi and Mario Schlosser planned to use technology in creating a better and a customer-friendly health insurance company.

According to a Forbes report, the company right now has more than 16,000 customers who pay an average of $4,500 in annual fees – placing Oscar’s revenue at around $72 million.

The CEO of Oscar, Joshua Kushner had also founded Thrive Capital, a Venture Capitalist firm that has funded big-names like Instagram, MakerBot, Nasty Gal and Warby Parker.