Oscar Health raises $165 million in new funding round

(Reuters) - Health insurance start-up Oscar Health said on Tuesday it raised $165 million in a new round of funding led by San Francisco venture capital firm Founders Fund.

In a blog post on its website, Oscar Health said other investors included 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Thrive Capital.

The company said the new funding along with its partnerships with industry heavyweights like Cleveland Clinic, Humana HUM.N and AXA AXAF.PA will aid it in providing affordable health care to consumers.

Among the participants of the funding, CapitalG and Verily Life Sciences are financed by Alphabet Inc. GOOGL.O

Oscar Health Insurance is a privately held company that aims to shake up the industry with technology-driven services for individual consumers.

The company was founded in 2012 by Mario Schlosser, Kevin Nazemi, who is no longer a part of the company, and Josh Kushner, brother of President Donald Trump’s adviser and son-in-law Jared Kushner.

Reporting by Gaurika Juneja in Bengaluru; Editing by Cynthia Osterman