Oscar raises $140 million

New York-based health insurer Oscar announced that it has raised a $140 million funding round led by Tiger Global Management with participation from Dragoneer, Baillie Gifford, Coatue, Founders Fund, Khosla, Lakestar and Reinvent.

“Since 2017, Oscar has seen annualized membership growth of more than 70%. As we continue to rapidly scale our business, this capital will help us deliver on our commitment to bring accessible and affordable care to even more Oscar members across the country.” – Mario Schlosser, Co-Founder and CEO of Oscar.

Founded in 2012, Oscar is now available in 18 states and 286 counties across its Individual and Family Plans, Medicare Advantage and Small group products. As of September 30, 2020, Oscar had approximately 420,000 members across 15 states.