Cedar

Cedar

Healthcare platform for billing and administration

About Cedar

Simplify's Rating
Why Cedar is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

Enterprise Software

Healthcare

Company Size

501-1,000

Company Stage

Series D

Total Funding

$419.4M

Headquarters

New York City, New York

Founded

2016

Overview

Cedar focuses on enhancing the administrative and billing processes in healthcare. Its main product is a user-friendly platform that streamlines the entire patient experience, from scheduling to payment. The platform simplifies bill resolution, engages patients with personalized messaging, and provides real-time insights into the revenue cycle. Unlike many competitors, Cedar emphasizes a tailored approach to patient communication, which helps healthcare providers improve their cash collections and patient satisfaction. The goal of Cedar is to help healthcare providers achieve their financial objectives while ensuring a smoother experience for patients.

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Simplify's Take

What believers are saying

  • AI-driven voice agents can reduce call center costs and improve patient satisfaction.
  • Automated notifications via Twilio enhance patient engagement and reduce missed payments.
  • Cedar's recognition as a top startup employer attracts talent, fostering innovation and growth.

What critics are saying

  • AI integration may face data privacy and compliance challenges in healthcare billing.
  • Reliance on AI for billing calls could lead to issues with complex inquiries.
  • Rising healthcare costs may undermine efforts to make healthcare financially accessible.

What makes Cedar unique

  • Cedar's platform offers a consumer-friendly approach to healthcare billing and administration.
  • The integration of AI, like Kora, enhances patient engagement and billing efficiency.
  • Cedar's focus on affordability pathways sets it apart in the healthcare technology sector.

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Funding

Total Funding

$419.4M

Above

Industry Average

Funded Over

5 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Below Average

Industry standards

$77M
$68.4M
Cedar
$70M
Twilio
$80M
Handshake
$100M
Affirm

Benefits

Competitive pay & equity

Health benefits

Unlimited PTO

Flexible work style

16 weeks paid parental leave

401k matching

Free lunch & snacks

Game nights & company events

Growth & Insights and Company News

Headcount

6 month growth

↑ 1%

1 year growth

↓ -1%

2 year growth

↓ -2%
Hit Consultant
Apr 29th, 2025
Cedar Launches ‘Kora’ Ai Voice Agent To Automate Patient Billing Calls

What You Should Know: â€“ Cedar, a patient financial platform for healthcare providers announced the launch of Kora, its advanced AI voice agent designed to automate patient billing calls. â€“ Developed in collaboration with communications platform Twilio and already being implemented at leading providers such as ApolloMD, Kora leverages Cedar’s deep healthcare expertise and proprietary billing data to deliver efficient and empathetic call resolution at scale.Kora: An AI Voice Agent Purpose-Built for Healthcare BillingKora represents a significant advancement beyond traditional Interactive Voice Response (IVR) systems. Available 24/7, the AI agent is designed to autonomously resolve common patient billing inquiries, often within the first interaction. It utilizes natural language processing to understand caller requests, identify underlying issues, and respond conversationally. The agent runs on Twilio’s ConversationRelay service, which provides the technical foundation for robust, natural voice interactions by integrating real-time streaming, speech recognition, and interruption handling capabilities. Key capabilities include clearly explaining charges, identifying suitable payment options, and connecting patients with relevant financial assistance programs. Built with compliance at its core, Kora incorporates HIPAA privacy and security safeguards. Future enhancements aim to include sentiment and tone detection and support for multiple languages.Addressing Call Center Challenges and Enhancing Patient ExperienceThe launch of Kora directly addresses pressing challenges faced by healthcare providers, including rising labor costs, persistent staffing shortages, and the dual pressure to improve patient financial experiences while managing operational overhead

PR Newswire
Mar 4th, 2025
Cedar Included On The Forbes List Of America'S Best Startup Employers 2025 For Fifth Consecutive Year

Cedar's continued recognition highlights commitment to employee satisfaction and follows ongoing advancements in tackling healthcare affordability NEW YORK, March 4, 2025 /PRNewswire/ -- Cedar has been recognized by Forbes as one of America's Best Startup Employers 2025. This prestigious award is presented in collaboration with Statista, the world-leading statistics portal and industry ranking provider. The award list was announced on March 4th, 2025, and can currently be viewed on Forbes' website. America's Best Startup Employers 2025 identified the top-performing startups in the United States by analyzing a set of defined KPIs that correspond to company growth and workplace satisfaction. After gathering more than 7 million data points from over 20,000 eligible companies, 3,000 employers qualified for in-depth analysis. In the end, only 500 companies were included in the ranking

Investing.com
Mar 4th, 2025
Twilio and Cedar partner to enhance healthcare billing with AI

Cedar is integrating Twilio's scalable communications technology into its platform, which will allow it to use Twilio's SMS and Voice services, including the AI-driven ConversationRelay service.

Hit Consultant
Mar 4th, 2025
Himss25: Cedar Integrates Empathetic Ai Capabilities In Patient Billing Experience

What You Should Know:– Twilio, a customer engagement platform, and Cedar, a patient financial experience platform, today announced a strategic partnership to revolutionize how patients interact with their healthcare bills.– The collaboration leverages Twilio’s communication tools and AI capabilities to enhance patient engagement, streamline billing processes, and reduce costs for healthcare providers.Transform the Patient Financial Experience with AI-Powered CommunicationsNavigating healthcare billing can be a complex and frustrating experience for patients, particularly those with multiple providers or limited insurance coverage. At the same time, healthcare providers face significant challenges in managing patient inquiries and ensuring timely payments.This partnership addresses these challenges by integrating Twilio’s technology into Cedar’s platform, enabling:Streamlined Communication: Automated SMS notifications and reminders for bills and appointments, improving patient communication and reducing missed payments.Automated SMS notifications and reminders for bills and appointments, improving patient communication and reducing missed payments. Seamless Payment Experience: Secure phone payments via Twilio’s Voice API and Stripe Pay Connector, with support for Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA).Secure phone payments via Twilio’s Voice API and Stripe Pay Connector, with support for Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA). Personalized Patient Support: AI-powered voice agents to automate inbound billing calls, providing instant support and reducing wait times.Expanding Access to Healthcare ResourcesBy integrating support for FSA and HSA payments, the partnership also aims to improve patients’ access to and utilization of these valuable healthcare resources. This can help patients maximize their healthcare benefits and reduce out-of-pocket costs.“At Cedar, the patient experience is at the core of all the work we do. Our work with Twilio enables us to combine AI-powered technology and empathetic service design, transforming how providers engage with patients about their bills,” said Dugan Winkie, Head of Commercial Strategy at Cedar

PR Newswire
Jan 23rd, 2025
Cedar Unveils Year In Review And Vision Ahead Report, Showcasing Bold Advancements In Tackling Healthcare Affordability

As the only platform unifying all elements of the patient's financial journey—including HSA banks and financial assistance programs—Cedar is uncovering unique pathways to affordability for patientsNEW YORK, Jan. 23, 2025 /PRNewswire/ -- Cedar , the leading financial experience platform, has released Our Year in Review and Vision Ahead : Cedar's Journey to Solving Healthcare's Affordability Crisis , underscoring the company's evolution from a patient engagement, billing, and collections platform to a comprehensive affordability solution. Through new investments in GenerativeAI and an expanding ecosystem of partnerships, Cedar is uniquely positioned to address affordability and define excellence in patient financial experience."We can make healthcare financially accessible while supporting providers' sustainability." - Florian Otto, Cedar Post this Cedar Unveils Year in Review and Vision Ahead Report, Showcasing Bold Advancements in Tackling Healthcare Affordability"We started with a simple belief: paying medical bills should be as easy as an online purchase. That vision helped us revolutionize medical billing for nearly 50 million patients. But, the rapidly increasing cost of care is preventing too many of these patients from receiving the care they need," said Florian Otto, CEO and Co-founder of Cedar. "Our 2024 initiatives, from AI-powered solutions to comprehensive affordability pathways, demonstrate that we can make healthcare financially accessible while supporting providers' sustainability."Key milestones from the report include:New affordability pathways: Cedar's intelligent matching engine uncovers new sources of funding and pathways to affordability that most patients never knew existed

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