A start-up health insurance company, Oscar, currently operating only in New York and New Jersey, has obtained a new round of funding totaling $145 million that values it at $1.5 billion.

According to the company, the new funding was led by Peter Thiel and Brian Singerman from Founders Fund. Li Ka-shing of Horizon Ventures, the Wellington Management Company, and Goldman Sachs also participated, in addition to all previous investors. This round brought Oscar's total funding to date to $320 million. The company said that the new capital would allow it “to expand its operations, develop new products and extend plans to new members across the country.”

Oscar describes itself as “a new kind of health insurance company” that thinks that “health insurance should be simple, human, and smart. We use technology to guide you to better care and help you keep track of your health. And our trusted team of nurses and healthcare experts work hard to answer your questions and save you money. It's even free to talk with a doctor over the phone anytime. We're like a doctor in the family.”