New York Startup Strives For Transparent Insurance

7-24-2013 9-53-05 PM

New York City-based startup Oscar is looking to disrupt the insurance industry by starting a full-service health insurance company that leverages mobile health and data analytics to reinvent the consumer experience and promote transparency across the care delivery model. The startup has been operating in stealth mode for nearly two years and has already raised $40 million in funding and been granted a New York health insurance license.

The company has not been as stealthy with regards to its recruiting efforts. Oscar has poached engineers from Google,  hired a former Tumblr VP as CTO, and recruited Microsoft’s former director of healthcare, Kevin Nazemi. VC legend Vinod Khosla and former director of Harvard Pilgrim in Massachusetts Charlie Baker are sitting on Oscar’s board of directors.

Funding has been provided by Khosla Ventures, General Catalyst, Founders Fund, and CEO Joshua Kushner’s own Thrive Capital. Kushner is a 28-year-old venture capitalist who founded Thrive Capital, an investment firm with an impressive portfolio that includes Instagram, Makerbot, and GroupMe.

Oscar is set to launch in January 2014.

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