There was a period of time when insurtech startups actually selling their own insurance products were hot tickets in the private and public markets. Things have changed. The venture-backed insurtech rollout to the public markets was lengthy. Lemonade, which sells rental insurance, went public in early July 2020. Root, which focuses on auto insurance, went…
We’ve spent quite a lot of time of late wondering just what the heck is up with the valuations of insurtech startups that went public in the last year. Keep in mind that we’re discussing neoinsurance providers like MetroMile and Hippo, not insurtech marketplaces like Insurify or Zebra. There was a stream of insurtech exits in…
Late last night Oscar Health, a tech-enabled medical insurance provider, priced its IPO at $39 per share. The final price came in $1 per share above its raised IPO guidance; Oscar Health had originally targeted a $32-$34 per-share IPO price. Some 37,041,026 shares were sold at $39, including 36,391,946 offered by the company itself. Not…
Investors appear excited to buy shares in impending public companies Oscar Health and Coupang. TechCrunch covered both extensively during their ramp toward the public markets, and more recently regarding their IPO march. And now, with a combined valuation well above $50 billion, both public offerings should make a splash. And in good news for their…
Amidst all the hype that Lemonade (IPO), Root (IPO), Metromile (SPAC-led debut) and other insurtech players have generated in the last year, it’s been easy to forget about Oscar Health. But now that the company founded in 2012 is approaching the public markets, one of the early tech-themed insurance companies is catching up on the…
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You…
Late Friday, Oscar Health filed to go public, adding another company to today’s burgeoning IPO market. The New York-based health insurance unicorn has raised well north of $1 billion during its life, making its public debut a critical event for a host of investors. Oscar Health lists a placeholder raise value of $100 million in…
The direct-to-consumer health insurer Oscar has raised another $225 million in its latest, late-stage round of funding as its vision of tech-enabled healthcare services to drive down consumer costs becomes more and more of a reality. In an effort to prevent a patient’s potential exposure to the novel coronavirus, COVID-19, most healthcare practices are seeing…
Oscar Health, the upstart healthcare insurance company and technology developer, expects to have roughly 400,000 members insured under its healthcare plans, who collectively will bring in roughly $2 billion in revenue for the company by the end of 2020, according to slides of a presentation from the JP Morgan Healthcare conference seen by TechCrunch. Those…
Insurance premiums total more than a trillion dollars in the U.S., and yet, where that money goes is something of a mystery. It certainly doesn’t seem to get invested in the consumer experience, where ancient incumbent companies still process paperwork as if it is the 1800s, and consumers are left wanting for new insurance options…