New York based health insurance startup Oscar has raised a $165m financing at a $3.2b post-money valuation led by Founders Fund. The company is nearing $1b in revenue, but heavy losses persist.
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Josh Kushner's health care startup is now worth $3.2 billion
Oscar, the health insurance startup co-founded by Joshua Kushner and Mario Schlosser, has raised $165 million in new venture capital funding. A source puts the post-money valuation at $3.2 billion, which is up from $2.7 billion in early 2016. Why it matters: Oscar's growth makes it a possible takeover candidate in what has become a very hot M&A market for health care services, even if it continues to be unprofitable. One possibility is that a rival insurer could make a play, hoping to improve its technology and telemedicine offerings. Another is that a pharmacy or other type of complimentary health care company could seek to add an insurance arm.
