Oscar co-founder Joshua Kushner, attending March For Our Lives in Washington, D.C. Photo by John Lamparski/WireImage.

Oscar, the health insurance startup co-founded by Joshua Kushner and Mario Schlosser, has raised $165 million in new venture capital funding. A source puts the post-money valuation at $3.2 billion, which is up from $2.7 billion in early 2016.

Why it matters: Oscar's growth makes it a possible takeover candidate in what has become a very hot M&A market for health care services, even if it continues to be unprofitable.

One possibility is that a rival insurer could make a play, hoping to improve its technology and telemedicine offerings. Another is that a pharmacy or other type of complimentary health care company could seek to add an insurance arm.

  • Deal details: Existing investor Founders Fund led the round, and was joined by 8VC, Verily Life Sciences, Fidelity, General Catalyst, Capital G, Khosla Ventures, and Kushner's Thrive Capital. Founders Fund is known as Peter Thiel's firm, but the Oscar investment has always been led by a different partner, Brian Singerman.
  • Go deeper: Oscar nears $1 billion in revenue, but heavy losses persist.

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In photos: Virginians line up for hours on first day of early voting

Photo: Andrew Caballero-Reynolds/AFP via Getty Images

In some parts of Virginia, people waited in line up to four hours to cast their ballots on the first day of early voting, according to the Washington Post.

The big picture: The COVID-19 pandemic seems to already have an impact on how people cast their votes this election season. As many as 80 million Americans are expected to vote early, by mail or in person, Tom Bonier, CEO of TargetSmart, a Democratic political data firm, told Axios in August.

Updated 59 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 30,306,469 — Total deaths: 948,147— Total recoveries: 20,626,515Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 6,705,114 — Total deaths: 198,197 — Total recoveries: 2,540,334 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.

Court battles shift mail-in voting deadlines in battleground states

Illustration: Sarah Grillo/Axios

Michigan joins Pennsylvania in extending mail-in ballot deadlines by several days after the election, due to the coronavirus pandemic and expected delays in U.S. Postal Service.

The latest: Michigan Court of Claims Judge Cynthia Stephens ruled that all ballots postmarked before Nov. 2 must be counted, so long as they arrive in the mail before election results are certified. Michigan will certify its general election results on Nov. 23.