Cedar Receives Series C Investment from Concord Health Partners

Florian Otto, Co-founder and CEO

Concord's participation in the company's Series C funding will help Cedar accelerate investment in core product development. Andreesen Horowitz led the company's Series C investment round, with participation from JP Morgan, Kaiser Permanente.

FREMONT, CA: New York-based patient engagement and financial technology platform Cedar, received an investment for its Series C funding round, from Concord Health partners, a healthcare-focused investment firm. Cedar facilitates patient-centric financial engagement across the entire care journey through personalized outreach and seamless user experience. In the last year, Cedar has realized substantial growth through innovative institutional collaborations, including a partnership with Novant Health that was announced on June 22.

"Leveraging Concord's strategic advice and partnerships with health and hospital systems will enable us to further accelerate our growth and extend our innovative solutions to more patients across the country," said Florian Otto, CEO co-founder of Cedar. "We are thrilled at how we have been received by leading healthcare investors like Concord, and we look forward to working with them to expand our business and provide more patients access to an improved and personalized financial experience."

Concord's participation in the company's Series C funding will help Cedar accelerate investment in core product development. Andreesen Horowitz led the company's Series C investment round, with participation from JP Morgan, Kaiser Permanente and individual angel investors including Jerod Mayo, linebacker coach for the New England Patriots and Jeff Vacirca, MD, FACP, and CEO of New York Cancer & Blood Specialists, as well as current investors Kinnevik, Thrive Capital, Lakestar and Founders Fund. Cedar was listed as one of the Top 50 Healthcare Solution Providers for 2020 by CIO Review Magazine.

"The evolution of patient financial engagement across the healthcare spectrum is front of mind for many of our health and hospital system partners, and Cedar has quickly become the leader in providing innovative solutions in that field," said James Olsen, Founder and Managing Partner of Concord Health Partners. "We are excited about the opportunity to partner with the Cedar team to continue to improve and transform patient satisfaction and financial results."