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Here’s what you need to know today in startup and venture news, updated by the ¸½½üÉÏÃÅ News staff throughout the day to keep you in the know.

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Oscar Health files for IPO

Health insurance company 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 , founder of , raised more than $1.6 billion in funding from investors including , Thrive Capital, Ìý²¹²Ô»å .

— Sophia Kunthara

Imperfect Food’s Series D reaches $110M

Sustainable online grocer Friday that investors added $15 million to its previously announced funding, bringing the total round to $110 million.

New investors coming on board this time include and . and 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 ¸½½üÉÏÃÅ data.

— Christine Hall

New Funds

Frontline raises $84M for third seed fund: , 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 , an online video platform and 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: , a startup developing voice robotic process automation tools for the health care industry $21.4 million in a Series A round led by and .

— Joanna Glasner

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