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This $1.5B Startup Is Making Health Insurance Suck Less

WIRED: In less than two years, Oscar Health, a New York City-based health insurance company, has already amassed 40,000 members, with its member-friendly plans and tech-driven approach. Now, the startup has landed another $145 million round of funding at a $1.5 billion valuation, which will help bring Oscar insurance to other cities across the country by the end of the year. While $1 billion-plus valuations are commonplace in the tech world these days, Oscar is one of a handful of startups that seems to have truly earned it. Oscar, which launched back in 2013, took on one of the country’s most entrenched and hairy markets—health insurance—and infused it with technology and user-friendly design. Now it’s generating around $200 million a year in revenue, according to CEO and co-founder Mario Schlosser. And that’s only in its existing markets in New York and New Jersey. (more…)

Fintech news, news

April 20, 2015