Cedar closed on a Series C funding round on June 22, raising $102 million.
Five things to know:
1. Cedar developed a patient engagement and payment technology platform to simplify the digital engagement and payment experience for patients. It plans to use the most recent finding to expand its reach and accelerate product innovation.
2. Andreessen Horowitz, a venture capital firm, led the funding round, which included $77 million in venture capital and $25 million in venture debt from JP Morgan.
3. Other participants in the funding round included Kaiser Permanente and Jeff Vacirca, MD, CEO of New York Cancer & Blood Specialists.
4. So far, Cedar has raised $157 million in capital to date.
5. Cedar also announced a partnership with Winston-Salem, N.C.-based Novant Health to develop a personalized patient financial experience. The health system expects to roll out the new engagement and billing platform by the end of the year.