The tech-driven platform business is designed to help healthcare clients drive improved efficiency, growth and superior engagement with members and patients.
The new service is focused on small businesses with 100 employees or less, and will offer the same services as the individual plans.
The 6,000-square foot facility has five exam rooms, three consult rooms, a lounge, a laboratory, and a multipurpose room to host wellness classes and events.
Mutual fund giant Fidelity led the round with participation from Google Capital, General Catalyst, Founders Fund, Lakestar, Khosla Ventures and Thrive Capital.
The tech-enabled health insurance startup has grown from 17,000 members at the beginning of 2015 to more than 125,000 members today.
As a result of this latest round of financing, the insurance startup now has an impressive valuation of $1.75 billion, according to The Wall Street Journal.
The new capital will allow Oscar to expand its operations, develop new products and extend plans to new members across the country.
The company is looking to disrupt the industry with its more personal and immediate health insurance model that is more in tune with the millennial generation.
Under the deal, those signing up with Oscar will get a Misfit fitness tracker, and earn breaks on their premiums for healthy behavior patterns.