If you still think that healthcare is only for the big pharmacy industry and doctors, it might be the time to think about it again. Worldwide IT giant Google has invested tens of millions into an ambitious startup that aims to change the industry once and for all.
The subject of this investment is a healthcare insurance company called Oscar. Their results are as rapid as substantial. By speaking of rapidness, we mean the results that the company has been showing since public launch which occurred in 2013. Oscar itself existed for some time before that, polishing all of the keypoints and figuring the best strategy for attracting investors.
Oscar has three co-founders behind its inception and each of them covered different field on previous position. Hence, Joshua Kushner is an entrepreneur, Kevin Nazemi worked for Microsoft as director of health care and Mario Schlosser, the current CEO, is a professional computer scientist. The trio joined forces and used all of their ability to create one of the best managed and technologically advanced startups in healthcare industry. And this kind of approach never goes unnoticed by the large investors which are always trying to snap up a piece of some tasty deal.
By the time of 2015 the startup has already achieved huge funding, equalling to more than $300 million and the figures show that the trend is about to continue. As we have already covered, $32 million came from Google alone. When there are big corporations on board, expect great things to happen.
As of Oscar itself, it is exhibited as a healthcare insurance company with a large number of possibilities available to their clients. One of the biggest benefits of the company is the chance to talk to the doctors via phone free of charge. Furthermore, the company gifted their clients a fitness tracker. This action was supported by a chain of achievements and prizes depending on how much did each individual walk throughout the day.
2015 was the year when Oscar had achieved a milestone of 40,000 active users. Most notably, the year before the guys have managed to attract only 15,000 of clients which shows a quick growth and potential for future improvements, which is definitely a pleasant sight for investors. Such growth rate has also positively influence the valuation of the company that, as of 2015, has reached $1.7 billion. The big healthcare game is on.
Only the future will show how far this initiative can go and how big the investments and revenue will get. But there is definitely a big chance that Oscar will conquer new heights in the nearest future, being aided by the giants of business like Google and the like. From our part, we can only sit back, grab some popcorn and see how the thing grows over time while making posts of excitement and congratulations.