What is Cedar?
Headquartered in New York City, Cedar was established in 2016 with the mission to enhance the patient financial experience in healthcare. The company's software platform is designed to simplify patient billing processes and empower individuals to better comprehend the costs associated with their medical care. By improving transparency and engagement, Cedar aims to reduce administrative burdens for providers and alleviate financial stress for patients, positioning itself as a key player in the healthtech financial engagement sector.
How much funding has Cedar raised?
Cedar has raised a total of $351M across 4 funding rounds:
Series A
$13M
Series B
$36M
Unspecified
$102M
Series D
$200M
Series A (2017): $13M with participation from Thrive Capital, Founders Fund, Martin Ventures, and SV Angel
Series B (2018): $36M led by Nat Turner, Sound Ventures, Lakestar, Thrive Capital, Kinnevik, and Kevin Systrom
Unspecified (2020): $102M supported by JPMorgan Chase and Andreessen Horowitz
Series D (2021): $200M featuring Thrive Capital, Concord Health Partners, TriplePoint Venture Growth BDC, and Andreessen Horowitz
Key Investors in Cedar
Thrive Capital
Thrive Capital is an investment venture capital company based in New York, with a primary focus on internet and software investments. They have been a consistent backer of Cedar, indicating a strong belief in the company's vision and market potential.
Andreessen Horowitz
Andreessen Horowitz, often referred to as a16z, is a prominent venture capital firm known for investing in technology companies across various stages. Their involvement suggests a strategic alignment with Cedar's innovative approach to healthcare finance.
Martin Ventures
Martin Ventures is a firm that invests in innovative healthcare companies, focusing on transforming the healthcare ecosystem to reward providers for achieving excellent health outcomes. Their participation highlights Cedar's role in advancing value-based care initiatives.
What's next for Cedar?
The substantial enterprise-level funding, including the recent major strategic investment, indicates that Cedar is likely in a scaling phase, focusing on expanding its market reach and enhancing its platform's capabilities. This capital will likely be directed towards technological advancements, strategic partnerships within the healthcare ecosystem, and broadening its customer base. The company's focus on improving patient financial engagement aligns with the broader industry trend towards value-based care and enhanced consumer experience, suggesting a strong future outlook for continued growth and innovation.
See full Cedar company page
