Oscar Health, a technology-driven health insurer, has announced that it has closed a $165 million funding round, led by Brian Singerman and Founders Fund and including 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Thrive Capital, among others.

The company said that it generated an underwriting profit in 2017, that it has enrolled nearly 250,000 members this year, and that it is projecting over $1 billion in gross premium revenue.

According to Oscar, the new funding will be used to support its plans for growing at a rate of four to five cities every year, in individual, small group, and other market segments.