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Oscar Health Raises $165M In Venture Funding | PYMNTS.com

Oscar Health, the startup aiming to disrupt the healthcare market, announced Tuesday (March 27) that it has raised $165 million in a fresh round of fundraising led by Founders Fund.

In a blog post,  Mario Schlosser and Joshua Kushner, co-founders of Oscar Health, said other investors to participate in the venture funding include 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Thrive Capital, among others. Capital G and Verily Life Sciences are units of Google’s investment arm. The funding will be used to fuel the company’s next phase of growth. CNBC noted that with the capital, Oscar Health’s valuation goes to $3.2 billion from $2.7 billion in 2016.

“More than five years ago — long before today’s dizzying array of mergers and new entrants — we knew the only way to fix a broken health care system was to empower the consumer,” wrote the co-founders when announcing the latest fundraising. “We started Oscar to secure the trust of consumers, to use data science and technology to proactively guide them to the best and most affordable doctors, and to finally introduce choice, competition, and value to health care.” According to Schlosser and Kushner, the investment underscores its investors’ belief in its long-term vision of the healthcare startup. It said it generated an underwriting profit last year, enrolled close to 250,000 members and is projecting gross premium revenue of more than $1 billion. It said it has highly engaged members which are translating into better and easier care for thousands of people around the country.

Online Lending Firm Upstart Targets $100 Million In Funding

Online lending startup Upstart is hoping to raise about $100 million in funding.

According to Bloomberg , one source said that the California-based startup is looking to sell shares that would value the business at $500 million to $1 billion.

While a spokeswoman for Upstart said the company isn’t currently raising funds, she does anticipate completing “a final private round” over the next year. She added that the company became profitable last year, while the value of loan transactions increased threefold and gross revenue went up fourfold.

Last year, the company announced a $32 million round of funding led by Rakuten, the Japanese eCommerce company. That brought Upstart’s total amount raised to $85 million. At the time, the company said it would put the money toward future growth, as well as to help license the technology to banks, credit unions and retailers.

“It’s very similar in nature to any SaaS business; it’s the whole idea of people saying, ‘We’re not going to try to build something ourselves,’” said Upstart’s CEO Dave Girouard. “We’re strongly on the tech and data science end of the spectrum. We don’t come from financial services, as do a lot of other [lending] companies. We apply very modern data science to the question of who gets a loan and at what price; that’s the heart of what we’re known for.”

Did the founders allow white males to vote if their land was mortgaged?

If not, would modern conservatives want to change that provision?