Oscar Health raises $150M, now worth more than $3B

Oscar Health

Health insurance startup Oscar Health has raised another massive round of funding, Fortune is reporting. With the newly added $150 million — led by Fidelity — the company is now worth more than $3 billion.

The novel insurance company has grown from 17,000 at the beginning of 2015 to more than 125,000 members today. Oscar started in 2013 with New York and New Jersey, and has since expanded to California and Texas. The company uses modern technology to differentiate its offering from established players — it not only simplifies the insurance procurement process, but also tries to better facilitate communication between members and healthcare professionals. There’s the Oscar Health mobile app and its members can even get a free activity tracker to take better care of their health.

Previously, Oscar has raised more than $300 million from a number of investors, including Founders Fund, Google Ventures, Goldman Sachs, Google Capital, Horizons Ventures, Khosla Ventures, Formation8, Wellington Management, General Catalyst and Kushner’s Thrive Capital.