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Cedar, the maker of an intelligent patient billing and engagement platform, announced today a $200 million Series D round of funding headed by Tiger Global Management, with participation from prior backers including Andreessen Horowitz (a16z), Thrive Capital and Concord Health Partners. This brings the company s total fundraising haul to $350 million, it said, and its valuation to $3.2 billion.
Cedar said that its patient-friendly digital offering has helped quadruple its business throughout the course of 2020 and now engages with more than 300,000 patients per day. It said it will use the new money to push its product roadmap outside of its core financial engagement product and focus on patient engagement offerings such as pre-visit price transparency tools.