# Cedar Cares

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cedar-cares

- Industry: Healthcare IT
- Headquarters: New York, US
- Website: www.cedar.com/
- Total disclosed funding: $301M
- Latest round: Series D (Mar 8, 2021)
- Investors on record: 12

## About

Cedar Cares, Inc. is a US-based company that develops an AI-driven platform to improve financial experiences for healthcare providers and patients, focusing on simplifying billing and payments in the healthcare sector.Cedar Cares, Inc. provides innovative solutions to enhance financial interactions in healthcare. Founded in 2016 in New York, US, the company has raised USD 268.36 mn, with its most recent funding round occurring on June 3, 2021. The founders of Cedar include Adrien Lewis, Arel Lidow, Denis Zabirokhin, Florian Otto, Jiaqi Ling, Kareem Zaki, and Xingyu Li, with Florian Otto serving as CEO. The company has completed a total of 6 deals.Cedar offers an AI-powered platform designed to enhance financial experiences for healthcare providers and patients. Its core product offerings include Cedar Pay, which facilitates end-to-end patient payments; Cedar Cover, which provides benefits and financial assistance options; and Cedar Support, an AI-driven solution for patient inquiries and support. These solutions address the challenges patients face in managing rising medical expenses and billing complexities, integrating various stakeholders to present billing in an understandable format for patients. Cedar primarily serves healthcare providers, payers, and patients across the United States.Cedar generates revenue through partnerships with healthcare providers, optimizing payment processes to improve financial outcomes. The company operates on a B2B model, facilitating the enhancement of billing systems and patient payment interactions. Revenue typically includes arrangements based on transaction volumes processed through its platform, which may involve subscription fees or service-based charges related to Cedar Pay and Cedar Support. Clients benefit from increased efficiency and improved collection rates, making Cedar's services integral to managing patient accounts receivable in healthcare.Cedar plans to leverage its recent funding of USD 268.36 mn raised in June 2021 to expand its product offerings and enter new markets. The company is in the process of developing new features for its platform, aiming for a rollout in the upcoming year. Additionally, Cedar is targeting expansion into new geographic regions, focusing on underserved markets across the United States to enhance its reach and service delivery.

## Funding rounds

- Series D, Mar 8, 2021, $192M — Tiger Global Management, Andreessen Horowitz, Thrive Capital, Memorial Hermann Health System Foundation, Concord Health Partners
- Series C, Jun 16, 2020, $60M — Kaiser Permanente Pension Plan, Founders Fund, Andreessen Horowitz, Kinnevik, Thrive Capital, Lakestar, Concord Health Partners
- Series B, Jun 25, 2018, $36M — Founders Fund, Kinnevik, Thrive Capital, Lakestar, Sound Ventures
- Series A, Dec 6, 2016, $13M — Founders Fund, SV Angel, Thrive Capital, Martin Ventures

## Investors

- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Series A, Series B, Series C
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Series A
- Thrive Capital (https://capitalatlas.ai/funds/thrive-capital) — Series A, Series B, Series C, Series D
- Martin Ventures (https://capitalatlas.ai/funds/martin-ventures) — Series A
- Kinnevik (https://capitalatlas.ai/funds/kinnevik) — Series B, Series C
- Lakestar (https://capitalatlas.ai/funds/lakestar) — Series B, Series C
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Series B
- Kaiser Permanente Pension Plan — Series C
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series C, Series D
- Concord Health Partners (https://capitalatlas.ai/funds/concord-health-partners) — Series C, Series D
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series D
- Memorial Hermann Health System Foundation — Series D