Cedar
Cedar is a New York–based healthcare financial technology company that provides an AI-powered unified patient billing, payments, coverage, and support platform for hospitals, health systems, and physician groups across the United States, processing $13.6 billion in patient payments for 35+ providers.
- Company typePrivate
- Founded2016
- HeadquartersNew York, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What Cedar does
Cedar is a healthcare financial technology company founded in 2016 and headquartered in New York City that operates a unified patient financial experience platform for hospitals, health systems, and physician groups across the United States. Its product suite centers on four core modules — Cedar Pay for end-to-end patient payments, Cedar Cover for benefits and Medicaid/financial-assistance enrollment, Cedar Support for AI-augmented patient service, and Kora AI, an autonomous HIPAA-compliant voice agent built with Twilio — all orchestrated by Cedar Intelligence, a proprietary decision engine that analyzes 80+ patient attributes drawn from 1.5 billion patient interactions and $10 billion in processed payments to personalize outreach, payment plans, and resolution paths.
Underlying capabilities include predictive analytics, generative AI (Bill Navigator), agent assistance (Agent Copilot), autonomous outbound calling (Kora Outbound), and NLP-driven bill summaries, with native integrations into Epic, Cerner, and athenahealth EHRs alongside payments infrastructure from Stripe, Plaid, and Apple Pay. The company operates a multi-layered security architecture with HIPAA and PCI-DSS compliance.
Cedar monetizes through a hybrid model combining enterprise subscription contracts for the platform (Cedar Pay, Cover, Support, and Kora), transaction-based fees on $13.6B of processed patient payments, premium add-ons for advanced AI capabilities, and managed-services economics on Medicaid enrollment outcomes. Distribution is direct enterprise sales to revenue cycle and finance leaders at provider organizations, supplemented by EHR marketplace channels. The company has raised approximately $419M+ in venture capital across multiple rounds including a $200M Series D led by Tiger Global Management at a $3.2B valuation in January 2026, and serves 35+ healthcare providers reaching 50M+ patients.
Cedar firmographics
Firmographics- Name
- Cedar
- Legal name
- Cedar Cares, Inc.
- Website
- https://cedar.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Cedar is a New York–based healthcare financial technology company that provides an AI-powered unified patient billing, payments, coverage, and support platform for hospitals, health systems, and physician groups across the United States, processing $13.6 billion in patient payments for 35+ providers.
- Ownership category
- akta.pro rank
Cedar industry classification
Industry- Product category
- Healthcare Revenue Cycle Management Software
- NAICS
- Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Loan Servicing Platforms (Billing, Statements, Customer Self-Service) (FSAGAHAH)
- akta.pro secondary industries
- Care Navigation, Referral & Digital Front Door Platforms (HLALABAH), Utilization Management, Appropriateness Criteria & Prior Authorization CDS (HLACAGAM)
Keywords
Where Cedar is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Cedar business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- Healthcare Payment Processing: Cedar earns fees for processing patient payments through its platform. Providers use Cedar Pay for end-to-end patient payment collection including credit cards, ACH, Apple Pay, and Stripe Link. The platform handles the full payment lifecycle from billing to collection.
- Patient Financial Engagement Platform: Subscription-based access to Cedar's full platform including Cedar Pay, Cedar Cover, Cedar Support, and Kora AI. Providers pay for the integrated suite of patient billing, coverage, and AI-powered support tools.
- AI-Powered Add-On Capabilities: Additional fees for advanced AI capabilities including Cedar Intelligence, Agent Copilot, Kora Outbound, and Bill Navigator. These are premium features that extend the core platform with generative and predictive AI.
- Medicaid Enrollment Automation: Cedar Cover provides automated Medicaid and financial assistance enrollment services, helping providers capture revenue from uninsured and underinsured patients that would otherwise become bad debt.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise healthcare provider contracts |
| Transaction based/ take rate | Pay-as-you-go | Transaction-based payment processing |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Cedar product offering
Product offeringCore offering
Cedar provides a unified patient financial experience platform for hospitals, health systems, and medical groups, combining end-to-end billing, payments, coverage/financial assistance, and AI-powered patient support. The platform leverages Cedar Intelligence, an AI decision engine trained on 1.5 billion patient interactions, to personalize billing journeys and optimize collections for healthcare providers.
Product overview
Cedar is a unified patient financial experience platform that combines billing, payments, coverage, and support into one intelligent system. The platform consists of four core products: Cedar Pay (end-to-end patient payments), Cedar Cover (benefits and financial assistance), Cedar Support (AI-powered customer support), and Kora AI (autonomous voice agent). These products are powered by Cedar Intelligence, an AI decision engine that analyzes over 80 patient attributes from 1.5 billion interactions to personalize engagement and optimize outcomes. The platform integrates with Stripe for payments, Plaid for HSA/FSA balance checks, and Twilio for conversational AI capabilities. Cedar serves 50+ million patients nationwide across 35+ healthcare providers, processing $13.6 billion in patient payments.
Differentiator
Problem solved
Functional benefit
Brands
- Kora: AI-powered voice agent for patient billing support and call center automation.
- Kora AI
- Cedar Intelligence
- Cedar Pay
- Cedar Cover
- Cedar Support
Products and services
- Cedar Pay
Quantifiable outcome
- 22% year 1 increase in patient collection rate across all Cedar clients
- +9 more outcomes
Companies that use Cedar
Customer profileNamed customers17 records
Segments3 records
Ideal customer profiles2 records
Cedar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability10 records
Feature6 records
Cedar partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and significant.
- TwiliocoreStrategic technology partnership for Kora AI voice agent development. Twilio's ConversationRelay service enables Cedar to deliver empathetic, HIPAA-compliant AI voice support for patient billing calls. Kora operates 24/7 and can resolve billing inquiries on the first interaction.
- athenahealth (athenaOne)coreIntegration partnership enabling Cedar's patient financial experience platform to work with athenahealth's EHR and practice management systems. Practices adopting Cedar through athenaOne see 3x ROI and 87% patient satisfaction with results in 8 weeks.
- EpiccoreIntegration partnership with Epic's EHR systems enabling Cedar's patient financial platform to work within Epic's healthcare IT environment used by major health systems.
- CernercoreIntegration partnership with Cerner's EHR systems enabling Cedar's patient financial platform to operate within Cerner's healthcare IT infrastructure.
- Fortuna HealthsignificantMedicaid enrollment partner that reviews and submits applications within 24 hours. This partnership helped one Cedar client approve nearly 300 patients for Medicaid/CHIP, recovering up to $1.7 million in annual revenue that would otherwise be written off.
Scale indicators21 records
Recent moves8 records
Expansion highlights6 records
Cedar competitors and assessment
Company assessmentDirect peers
- Notable: Notable is a healthcare automation and patient engagement platform that uses AI to streamline patient intake, scheduling, billing, and outreach for providers. It is a direct competitor in intelligent, AI-driven patient financial workflows, particularly for health systems looking to automate revenue cycle touchpoints.
- Luma Health: Luma Health provides a patient engagement platform for scheduling, reminders, intake, and communication across health systems and clinics. It competes with Cedar on the patient-facing engagement and outreach layer, though Cedar is more focused on the financial/billing end of the journey.
- Phreesia: Phreesia is a patient intake, engagement, and payment platform used by health systems, physician groups, and specialty practices. It overlaps directly with Cedar on patient check-in, eligibility, and digital payments, targeting the same provider revenue cycle and patient experience buyer.
- Waystar: Waystar is a leading healthcare revenue cycle management platform covering patient access, billing, and payments for hospitals and physician groups. It is the most direct end-to-end RCM peer to Cedar, competing for the same CFO and revenue cycle buyer with overlapping patient billing and payment functionality.
Broad incumbents
- R1 RCM: R1 RCM is one of the largest US healthcare revenue cycle management companies, serving large health systems with end-to-end RCM services plus technology. It is a broad incumbent competitor that overlaps with Cedar's billing, payments, and patient engagement capabilities at the enterprise health-system level.
- Experian Health: Experian Health is the healthcare arm of Experian, offering patient access, identity, billing, and payment solutions to providers. It competes with Cedar across patient financial experience and identity-driven billing workflows, leveraging a much larger parent data and analytics footprint.
Emerging players
- Akasa: Akasa is an AI-native revenue cycle automation company for hospitals and health systems, applying generative and agentic AI to billing, coding, and claims workflows. It is an emerging competitor to Cedar's AI billing stack (Cedar Intelligence, Kora), targeting similar automation-driven margin improvement narratives.
- Collectly: Collectly is a patient billing and collections platform for medical practices and groups, focused on digital statements, text-to-pay, and AI-driven outreach. It is an emerging niche competitor in patient billing, particularly for physician groups that overlap with Cedar's clinician services segment.
- Kyruus: Kyruus is a patient access platform focused on provider search, scheduling, and intake for health systems and payers. It is an emerging adjacent competitor where patient engagement and digital front-door capabilities overlap with Cedar's positioning as the digital front door for financial experience.
Others
- Flywire: Flywire is a global payments platform with a healthcare vertical that processes large patient and cross-border payments for providers, payers, and health systems. It is an adjacent payments infrastructure peer rather than a direct end-to-end patient engagement competitor, but overlaps on healthcare payment processing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cedar social profiles
Digital presenceCedar compliance and trust
Trust signalCompliance2 records
Cedar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cedar leadership team
Management profileNumber of profiles
Profiles1 record
Cedar funding detail
Funding detailFunding overview
Funding rounds6 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cedar M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cedar
What does Cedar do?
Cedar provides a unified patient financial experience platform for hospitals, health systems, and medical groups, combining end-to-end billing, payments, coverage/financial assistance, and AI-powered patient support. The platform leverages Cedar Intelligence, an AI decision engine trained on 1.5 billion patient interactions, to personalize billing journeys and optimize collections for healthcare providers.
Is Cedar a public or private company?
Cedar is a private company. It is classified as venture growth investor backed and is currently operating.
When was Cedar founded?
Cedar was founded in 2016. It employs 501 to 1,000 people.
Where is Cedar based?
Cedar is headquartered in New York, United States, in the North America region.
How does Cedar make money?
Four revenue lines are on record. Healthcare Payment Processing is the primary driver. The others are patient Financial Engagement Platform, AI-Powered Add-On Capabilities and medicaid Enrollment Automation.
Who are Cedar's main competitors?
Direct peers on record are Notable, Luma Health, Phreesia and Waystar. Broad incumbents are R1 RCM and Experian Health. Emerging players are Akasa, Collectly and Kyruus. Flywire is listed as an others.
Does Cedar have an API?
No public API is recorded for Cedar.
What industry is Cedar in?
Cedar's product category is Healthcare Revenue Cycle Management Software. Its primary akta.pro industry code is FSAGAHAH, Loan Servicing Platforms (Billing, Statements, Customer Self-Service), with a secondary code of HLALABAH, Care Navigation, Referral & Digital Front Door Platforms. Its NAICS code is 54151 and its SIC code is 7370.