Google Capital invested $32.5 million in Oscar Health Insurance, an insurance startup, according to The Wall Street Journal.
Here are five takeaways:
1. With Google's investment, the startup now values at $1.75 billion.
2. Mario Schlosser, Kevin Nazemi and Joshua Kushner founded Oscar Health in 2012, to model insurance like an Internet service.
3. Instead of signing up employers, the startup brings insurance to the individual, with customers paying about $5,000 annually.
4. Google invested in Oscar Health because the startup could realistically lower costs for customers.
5. Oscar Health's New York and New Jersey markets encompass more than 40,000 patients. California and Texas will welcome the startup's services in 2016.
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