-71%

est. 2Y upside i

FinTechSeries D+

Rank

#3848

Sector

Healthcare IT / Fintech

Est. Liquidity

~4Y

Data Quality

Data: Medium

The equity offer from Cedar is highly risky with an expected negative return of -71% over a 2-year horizon.

Last updated: July 3, 2026

Bull (10%)-39%

Multiple holds at 8x driven by successful IPO window and category leadership, but revenue growth of 30% leads to exit value of $2.6B, which is below current valuation, resulting in -39% upside before 20% dilution.

Base (45%)-59%

Multiple declines to 6x in line with public comps as growth matures, exit value $1.95B, resulting in -59% upside after 20% dilution.

Bear (45%)-90%

Multiple compresses to 3x due to strong incumbent competition (Epic, JPMorgan) and market share loss, exit value $975M, resulting in -90% upside after dilution.

Est. time to liquidity~4.0 years

Preference Stack Risk

moderate

Funding Intensity

1310%

Total preferred liquidation preference of $419M represents 13% of current valuation, moderating common stock's exposure.

Dilution Risk

high

With $102M revenue and no profitability, additional funding is likely, potentially diluting common stock by 20%+.

Secondary Liquidity

none

No secondary market activity reported.

Sales & Marketing — 8 roles

Product and Technology — 4 roles

CEO Office — 1 role

Investor Relations — 1 role

Legal and Compliance — 1 role

Operations — 1 role

View all 16 open roles at Cedar →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Cedar's data — designed to show you've done your homework.

  • 1

    “How does Cedar differentiate from Epic's native billing module?”

  • 2

    “What is the path to profitability given the high cash burn?”

  • 3

    “How would you value the equity given the stale valuation mark and no IPO plans?”

Community

Valuation Sentiment

Our model estimates -71% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.