O
OODA Health
A healthcare system liberated from waste, focused on delivering affordable and high-quality care
About OODA Health
OODA Health was established in 2017 by a team of seasoned digital health and technology executives including Giovanni Colella, Seth Cohen, Anshul Amar, Julie Skaff, and Sophie Pinkard. The founders brought with them extensive experience from previous ventures; Colella founded RelayHealth and Castlight Health, while Cohen and Amar were early, pivotal members of the Castlight Health team. This background in tackling healthcare system inefficiencies directly informed OODA Health's mission.
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Operating in the healthcare financial technology market, OODA Health developed a platform to address the administrative complexities and friction in the payment process between patients, healthcare providers, and insurance payers. The company's business model centered on creating a collaborative, real-time system that streamlined interactions and reduced the administrative waste prevalent in healthcare billing. Its clients included major health plans and providers, such as Anthem, Blue Cross Blue Shield of Massachusetts, and CommonSpirit Health.
The core service involved a cloud-based platform that utilized AI and machine learning to facilitate instantaneous data-sharing, claims adjudication, and payment processing. This technology was designed to eliminate payment complexity and delays, providing a single, consolidated bill for patients and guaranteeing immediate payment to providers, thereby shifting the collections responsibility to the payers. By connecting payers and providers on a single platform, OODA Health aimed to offer transparency, reduce confusion, and lower out-of-pocket costs for consumers.
A significant milestone in the company's history was its acquisition by Cedar, a healthcare financial technology company, in May 2021 for $425 million. This acquisition was a strategic move to combine Cedar's provider-focused platform with OODA Health's payer-centric solutions, creating a comprehensive platform to manage the entire healthcare financial journey. Following the acquisition, OODA Health's co-founder Seth Cohen became the president of the combined entity. Keywords: healthcare financial technology, patient billing solutions, healthcare payment processing, provider-payer collaboration, revenue cycle management, healthcare administration, real-time claims adjudication, medical billing software, patient financial engagement, healthcare fintech, insurance payment platform, administrative waste reduction, consumer healthcare finance, consolidated billing, healthcare transparency tools, digital health payments, Seth Cohen, Giovanni Colella, Cedar acquisition, medical debt solutions
At a glance
- Status
- Acquired
- Founded
- 2017
- Headquarters
- San Francisco, United States
- Employees
- 11
- Open positions
- None listed
- Dealroom signal
- 66.7/100
- Industry
- Health, Fintech
- Sub-industry
- Health Platform, Payments
- Sector
- Health Tech & Medtech, Core AI, Insurtech Related, Hard Tech, AI Applications
- Technology
- Artificial Intelligence, Machine Learning, Nanotech
- Business model
- SaaS
- Client focus
- b2b
Latest news
Press, funding announcements and product moves mentioning OODA Health.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| ACQUISITIONOther financing | May 2021 | $425M | $425M | Cedar | — |
| SERIES AOther financing | Sep 2018 | $41M | $162M | Blue Shield of California Foundation · Blue Cross Blue Shield of Arizona · Threshold Ventures · Zaffre Investments | ↗ |
Growth signals
Latest recorded traffic for OODA Health is 1.3K monthly website visits, down 31.6% over the last three months. OODA Health's team declined 65.6% over the past year.
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series A7 investors entered at this stage
Oak HC/FT
Threshold Ventures
Blue Shield of California Foundation
Blue Cross Blue Shield of Arizona
Zaffre Investments- ANAnthem
Dignity Health
Other known investors1 additional known investor
Cedar
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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