Alphabet, the parent company of Google, is investing $375 million in New York-based Oscar Health according to Wired.
Oscar offers health insurance coverage for individuals and small businesses in six states.
In April, Oscar began offering small business health insurance in Southern California.
Alphabet also invested in Oscar last March as part of a $165 million round. It will now own roughly 10% of Oscar says Wired.
Other investors in Oscar Health include Founders Fund, 8VC, Verily Life Sciences, Fidelity, General Catalyst, Khosla Ventures, and Thrive Capital.