Oscar, The Startup That's Trying To Shake Up Healthcare, Just Raised $80 Million

Jillian D'Onfro | Business Insider | May 14, 2014

Oscar, the company dead-set on shaking up the broken healthcare industry, just announced an $80 million fundraise, bringing its valuation to nearly $1 billion. Oscar officially launched in New York City in January of this year, after founders Kevin Nazemi, Joshua Kushner, and Mario Schlosser decided that they wanted to use technology to create a better, more consumer-friendly health insurance company.

The site is well-designed and easy to navigate, and tries to one-up traditional health insurance companies like Aetna and UnitedHealth by making bill paying a breeze and allowing members to consult with doctors over the phone at no additional charge. Forbes reports that the company currently has more than 16,000 customers who pay an average of $4,500 in annual fees — placing Oscar’s revenue at around $72 million, with a valuation of $800 million...