Insurance

The company is cash flow positive and will use the funds to expand operations and accelerate the development of related consumer decision support products.

The company makes it easier for freelancers and independent contractors, who make up one third of the U.S. labor force, to find the right insurance for them.

63% of survey respondents believe that wearable technologies will be adopted broadly by the insurance industry within the next two years.

The new capital will allow Oscar to expand its operations, develop new products and extend plans to new members across the country.

The feature pinpoints a user's location and pulls up the profiles and contact information of recommended health and life insurance agents in that area.

The round was led by Founders Fund and NEA, with participation from Formation 8, Redpoint Ventures, RRE Ventures, Subtraction Capital, and Rock Health.

Participating members will get to benefit from the new online wellness platform, offering a health assessment, digital health assistant and health information.

The Health4Me app also got few other features, including expense management capability, Fitbit integration and live streaming of UHC.TV Internet TV channel.

The REST API(s) that allow health tech companies to add a streamlined insurance eligibility check feature for doctors and patients.

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.