Entrepreneurship

Oscar Health Files For IPO, Imperfect Food’s Series D Reaches $110M, And More – Crunchbase News

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Oscar Health files for IPO

Health insurance company Oscar Health filed an S-1 registration document with the U.S. Securities and Exchange Commission on Friday. The company reported more than $488 million in revenue in 2019, up around 5 percent from around $463 million in 2018. 

Its losses also shrunk in that period, from nearly $406 million in 2018 to around $261 million in 2019. The company has around 529,000 members across 18 states.

Oscar’s health insurance model includes free virtual care appointments and a program for Medicare-eligible adults.

The company, which was co-founded by Josh Kushner, founder of Thrive Capital, raised more than $1.6 billion in funding from investors including Founders Fund, Thrive Capital, CapitalG and Fidelity.

— Sophia Kunthara

Imperfect Food’s Series D reaches $110M

Sustainable online grocer Imperfect Foods said Friday that investors added $15 million to its previously announced $95 million in Series D funding, bringing the total round to $110 million.

New investors coming on board this time include Hamilton Lane and Blisce. Insight Partners and Norwest Venture Partners led the initial Series D in January.

San Francisco-based Imperfect Foods cited triple-digit growth between 2019 and 2020, growing its customer base to more than 350,000 customers, and finished out the year with a revenue run rate in excess of $500 million. During that time, it also transitioned to a national full-service grocer.

The company intends to use the funding to double capacity and product assortment in existing facilities and accelerate its private-label program, as well as support shoppers, farmers and partners. With the new funding, Imperfect Foods has raised a total of $229.1 million in funding since it was founded in 2015, according to Crunchbase data.

Christine Hall

New Funds

Frontline raises $84M for third seed fund: Frontline Ventures, a seed investor focused on European startups, raised  70 million euros ($84 million) for a third fund that will focus on B2B companies with plans to scale in North America.

Joanna Glasner

IPOs

Kuaishou stock more than doubles after IPO: The price of shares of China-based Kuaishou Technology, an online video platform and TikTok rival, more than doubled in first-day trading as the stock debuted in Hong Kong after raising $5.4 billion in its IPO. (See more here.)

Joanna Glasner

Enterprise Software

Infinitus lands $21.4M for health care automation: Infinitus, a startup developing voice robotic process automation tools for the health care industry has raised $21.4 million in a Series A round led by Kleiner Perkins and Coatue.

Joanna Glasner

Illustration: Dom Guzman


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