Google Capital has invested $32.5 million in health insurance startup Oscar, reports the Wall Street Journal. The deal brings the company’s total funding raised to more than $350 million and values Oscar at $1.75 billion. The startup previously raised funds in April, when it was valued at $1.5 billion. The company only operates in New York and New Jersey currently, and has more than 40,000 patients signed up to its insurance offerings currently. Oscar plans to expand its services to Texas and California at the beginning of next year.
Point of Sales platform Lightspeed has raised $61 million in funding led by Caisse de depot et placement du Quebec (CDPQ) and Investissement Quebec (IQ). Existing investors Accel Partners and iNovia Capital also participated. The company has now raised $126 million to date. “Today, our cloud platform processes more than 17,000 actions per minute. We are investing heavily in scaling our platform to support our rapidly growing and increasingly global user base as well as developing offline transaction capabilities,” said Dax Dasilva, Lightspeed CEO and founder. “With omnichannel becoming increasingly important to our retailers and their customers, this funding will also further support the expansion and development of our eCommerce offering.”
Digital health company Omada Health raised $48 million in Series C funding, in an investment round led by Norwest Venture Partners. Previous backers US Venture Partners and Andreessen Horowitz joined strategic investors Humana and Providence Health & Services in the round. The company will use the funds to expand the research and publishing schedule of Prevent, Omada’s flagship program which aims to reduce the risk of obesity-related diseases such as heart disease and diabetes. “At more than $500 billion a year, the cost of obesity-related chronic disease for employers, insurers, and our country is staggering. Prevent has been held to the highest clinical rigor, is proven to work, and can be scaled to deal with the size of this epidemic,” Omada Health CEO and co-founder Sean Duffy said. “The fact that this funding round includes not only world-class investors, but two customers who happen to be one of the country’s largest health insurers and one of the largest not-for-profit health systems, is a huge vote of confidence in the company, and in our ability to tackle a huge – and costly – health care problem.”
Japanese micro-satellite startup Axelspace raised a Series A round worth $15 million, led by Global Brain, Tech In Asia reports. Five other Japanese VCs also participated, as did Mitsui & Co. and Sky Perfect JSAT broadcasting company. The company will use the funds to develop three micro-satellites that will launch in 2017.