Understanding how much you owe after a doctor’s office visit or surgery can be a long, frustrating process.
There are forms that come from your health insurer summing up how much you might owe, while your doctor’s office might tell you a completely different amount. And it might be months until any of that information shows up in your mailbox, at which point you might’ve already forgotten that particular visit.
Tackling that bad billing experience is the focus of Cedar, a four-year-old New York startup. On Monday, the company said it raised $102 million in funding in a round led by Andreessen Horowitz. $77 million of the investment was equity and the rest was venture debt from JPMorgan. In all, the startup has now raised $157 million.
As part of the round, Andreessen Horowitz managing partner Scott Kupor is joining Cedar’s board.
Business Insider got an exclusive look at the presentation Cedar used to win over investors in its latest round. The presentation, shared by Cedar, omits some slides that contained financial information.
The presentation shows how Cedar plans to expand beyond its initial offering, which helped make it easier to pay for a doctor visit.
In partnership with two health systems, Cedar is now building a set of tools that aim to improve the experience for patients when they go to the doctor. That includes appointment reminders, software to take down insurance information and provide price estimates, and tools that let patients check in for appointments digitally.
Read on to see the full presentation.