About Oscar Health
Oscar Health provides health insurance plans for individuals, families, and small businesses, aiming to simplify the insurance experience through technology. Their services include 24/7 virtual care, allowing members to consult healthcare providers anytime, which is convenient for those needing immediate medical advice. Oscar also offers tools to help members locate doctors and facilities that accept their insurance, enhancing access to care. Unlike traditional insurers, Oscar focuses on user engagement and digital accessibility, ensuring their services are inclusive for all, including people with disabilities. The company's goal is to make healthcare more accessible and affordable while maintaining high-quality care.
New York City, New YorkHeadquarters
2012Year Founded
$1,588MTotal Funding
IPOCompany Stage
Fintech, HealthcareIndustries
1,001-5,000Employees
Benefits
Health insurance - That’s a given. Employees and their families receive incredible health insurance.
Financial benefits - A penny saved....we’re talking about a 401K plan, health savings accounts, and more.
Well @ Oscar - We care about your wellness with fitness classes and access to mental health support.
Work-Life Balance - We offer multiple time-off options, wellness days, and 10+ weeks of parental leave.
Learning & Development - We offer everything from mentorship to management training.
Risks
Oscar's exit from Medicare Advantage led to a loss of 1,800 members.
The partnership with Cigna saw a membership decline of nearly 10,000 members.
Oscar faces stiff competition in the employer market from larger insurers.
Differentiation
Oscar Health uses technology to simplify and humanize the insurance experience.
The company offers 24/7 virtual care services for immediate medical consultations.
Oscar provides tools to help members find doctors, hospitals, and pharmacies.
Upsides
Oscar Health aims to double its membership by 2027, leveraging ACA market position.
The partnership with Cigna expands Oscar's market reach and provider network.
Oscar's digital campaigns attracted 600,000 new members, showcasing effective customer acquisition.
Funding
Total raised$1.59 B
Latest valuation$7.90 B
StageIPO
IPO
2/28/2021$1.4 K
$7.90 BLATE VC
11/30/2020- Lakestar
- Tiger Global
- Coatue Management
- Dragoneer Investment Group
- Breyer Capital
- Thrive Capital
- Goldman Sachs Asset Management
- BoxGroup
- General Catalyst
- Red Swan Ventures
- General Catalyst Partners
- Founders Fund
- CapitalG
- Formation 8
- Horizons Ventures
- Velos Partners
- Jim Breyer
- Verily
- Ping An Ventures
- Reinvent VC
- Fidelity Investments
- Goldman Sachs
- Khosla Ventures
- Baillie Gifford
- Horizon Ventures
- Wellington Management
$140
$3.20 BSERIES A
12/31/2013$30
$150.00 M