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Cedar

Financial engagement & billing technology for healthcare providers

501-1000 employees
  • Fintech
  • Healthcare
  • B2C
  • Enterprise
  • Payments
  • SaaS
  • Social Impact
West Village, New York, NY

Company mission

To make healthcare more affordable and accessible through its consumer-friendly platform.

Top investors

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back within 2 weeks

41% female employees

-9% employee growth in 12 months

Otta's take

Theo Margolius headshot

Theo Margolius

COO of Otta

Over $1 billion is said to be lost annually by physicians as a result of inefficient and disjointed healthcare billing practices. The subsequently low patient satisfaction rates lead to poorer care, and real losses for providers who see patients switching away from their plans. Cedar looks to remedy this long-time problem set with a selection of consumer-facing services which streamline billing, insurance, and healthcare processes.

Companies like Cedar are in high demand, and serve a promisingly large and hungry market. Future healthcare billing concerns a huge percentage of US adults, and optimizing patient satisfaction is of increasing concern in a competitive sector for healthcare providers. Like other companies with a tech-forward focus, Cedar has been able to capitalize on an industry increasingly expanding towards digital healthcare solutions.

After acquiring competing patient finance streamlining service OODA Health in 2021, Cedar has gone on to capture even more success. The company has netted substantial funds on top of the launch of its Payer Intelligence Layer, which allows it to integrate data from insurers and providers to create a single source of information. It was also endorsed by the Montana Hospital Association's shared services division MHA Ventures (MHAV), to be listed as its only preferred patient financial engagement technology, all boding well for its performance into the future.

Benefits

  • Flexibility to work from home or in the office, depending on what works best for you
  • Health insurance
  • Offices in Manhattan, San Francisco and Salt Lake City
  • Free lunch, healthy snacks, cold brew and kombucha on tap (Yup!)
  • Guided-meditation and game nights (Weekly!)
  • Unlimited PTO for vacation, sick and mental health days–we encourage everyone to take at least 20 days of vacation per year to ensure dedicated time to spend with loved ones, explore, rest and recharge
  • 16 weeks paid parental leave with health benefits for all parents, plus flexible re-entry schedules for returning to work
  • Diversity initiatives that encourage Cedarians to bring their whole selves to work, including three employee resource groups: be@cedar (for BIPOC-identifying Cedarians and their allies), Pridecones (for LGBTQIA+ Cedarians and their allies) and Cedar Women+ (for female-identifying Cedarians)
  • Competitive pay, equity (for qualifying roles) and health benefits that start on your first day
  • 401k plan with 3% employer non-election contribution
  • Access to hands-on mentorship, employee and management coaching, and a stipend for learning and development resources to help you grow both professionally and personally
  • A chance to improve the U.S. healthcare system at a high-growth company! Our leading healthcare financial platform is scaling rapidly, helping millions of patients per year

Company values

  • Focus on the vision: We enable an exceptional healthcare consumer financial experience through relentless focus, only prioritizing actions that advance us towards this goal.
  • Reject mediocrity: We solicit diverse perspectives, set high standards and constantly challenge ourselves to raise the bar on our thinking, people and performance.
  • Apply a growth mindset: We maintain an optimistic, constructive and resilient attitude, passionately pursuing our mission, embracing difficult problems and learning from setbacks.
  • Use good judgment: We require accountability, bold thinking and a reliance on common sense to prioritize and make informed decisions that reflect our convictions, integrity and core values.

Funding (last 2 of 5 rounds)

Dec 2022

$68.4m

SERIES D

Mar 2021

$200m

SERIES D

$394.4m

Total funding

This company has top investors

Founders

Arel Lidow

(Co-Founder)

Prior to founding Cedar in 2016, Arel was VP of product at AppNexus where they supervised the development and launch of the company’s flagship products. Arel began their career as a technology associate at Bridgewater Associates, working on trading systems for the world’s largest hedge fund. Graduated from Princeton University with a B.S.E. in electrical engineering and a certificate in finance.

Dr. Florian Otto

(Co-Founder & CEO)

Prior to founding Cedar, Florian was an executive at Zocdoc where they drove the commercial adoption of the platform. Florian also founded a daily deal company in Brazil (ClubeUrbano) that was eventually acquired by Groupon. After the acquisition, he became Chief Executive Officer of Groupon Brazil. Florian began their business career as a strategy consultant at McKinsey & Company within their healthcare practice. Florian holds a M.D., D.D.S. and PhD from the University of Freiburg, Germany.

Jobs (9)

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Software Engineering

Finance, Legal & Compliance

Sales & Account Management