Oscar’s $225 Million Funding Round

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP represented Oscar in the operation.

Oscar, the first direct-to-consumer health insurance company, announced that it has closed a $225 million funding round. The round positions Oscar to continue growth off of a $2 billion revenue base and puts the company on a path to further advance its mission of making health care simple.

The latest fundraising round saw participation from many existing investors, including Alphabet, General Catalyst, Khosla Ventures, Lakestar and Thrive Capital, among others, with new investors Baillie Gifford and Coatue also joining the round. The new funding reaffirms investors’ confidence in Oscar’s business model and enthusiasm around its long-term strategy.

Oscar is the first health insurance company built to make health care easy. Headquartered in New York City, Oscar has been challenging the health care system’s status quo since our founding in 2012, developing seamless technology and providing personalized support to help our members navigate their health care. Oscar was the first insurer to offer free, 24/7 telemedicine to members and to integrate direct scheduling with providers through our app.

The Gunderson deal team was led by Steven Baglio (Picture), Randall Clark, Eric Broad, Janice Lee, and included Katherine Gardner and Alexa Haertel.

Involved fees earner: Steven Baglio – Gunderson Dettmer; Eric Broad – Gunderson Dettmer; Randall Clark – Gunderson Dettmer; Katherine Gardner – Gunderson Dettmer; Alexa Haertel – Gunderson Dettmer; Janice Lee – Gunderson Dettmer;

Law Firms: Gunderson Dettmer;

Clients: Oscar Health;

Author: Ambrogio Visconti