Josh Kushner's online insurance startup has raised another $375m in equity funding from Alphabet. Alphabet now owns roughly 10 percent of the company, which is valued at over $3b.
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Alphabet Invests $375m in Oscar Health
Oscar, which ranked No. 12 on CNBC's 2018 Disruptor 50 List, uses a mix of technology, provider partnerships and member experience to try to make health insurance pricing clearer for patients, while giving doctors more flexible payment models. As part of the strategic investment, early Google employee and former YouTube CEO Salar Kamangar is joining Oscar's board. Oscar CEO Mario Schlosser said in a statement that Alphabet's investment will help bring Oscar's product to more cities and allow it to start selling to seniors through Medicare Advantage by 2020.
