Oscar Health operates as a consumer-focused health insurance company that combines its own technology platform with a network of Oscar-recommended doctors and telemedicine offerings. Launched in 2014, its virtual care program now accounts for nearly half of all member primary-care visits and is used by 38% of members who have at least one medical visit. The insurer sells Individual & Family, Small Group, and Medicare Advantage plans and will expand to 18 states and 286 counties in 2021. Membership has grown at a 70% annualized rate since 2017, reaching roughly 420,000 members across 15 states as of September 30, 2020. Oscar’s strategy centers on rapid geographic expansion, technology-enabled cost control, and a member-centric experience. The company positions its virtual and digital engagement tools as key differentiators in a crowded insurance market. Repeated large fundraises signal an intention to scale aggressively ahead of an anticipated public offering.

Total raised

$1.2B

Funding rounds

8

Latest round

Equity

Latest activity

Dec 2020