LeanTaaS, a predictive analytics and machine learning company that specializes in improving healthcare operations, closed a $40 million Series C3 round, bringing its total VC funding to over $100 million. The financing round was led by Goldman Sachs’ Merchant Banking Division.
The company said it will use this round of funding to further develop the software platform and accelerate its talent acquisitions, sales, and marketing efforts.
“LeanTaaS has developed a powerful prescriptive analytics platform that helps bend the access and cost curves in health systems, enabling customers to achieve tangible operational improvements,” said Antoine Munfa, a managing director with Goldman Sachs’ Merchant Banking Division in a press release. Paul Pate, a vice president with Goldman Sachs’ Merchant Banking Division, added, “LeanTaaS delivers its platform as scalable, web-based software which can be configured to serve a wide array of healthcare environments.”
LeanTaaS develops cloud-based SaaS solutions that are intended to solve complex operational problems in the healthcare industry.
By using advanced lean principle algorithms, the company predicts and matches the demand for expensive healthcare resources such as operating rooms, infusion chairs, ambulatory clinics, imaging assets, inpatient beds among the others. This allows hospitals and healthcare clinics to increase patient access, decrease wait times, improve staff satisfaction, reduce healthcare delivery costs and improve operational performance.
The company serves more than 100 hospital systems and 900 operating systems across the United States.
“With Goldman Sachs and Insight Partners as our two major financial investors, we continue to strengthen our access to an incredibly diverse set of resources including expertise, network, and funding to accelerate the pace at which we help hospitals and healthcare providers bend their access and cost curves,” said Mohan Giridharadas, founder and CEO of LeanTaaS in the company press release.
Similar technologies that received funding include:
Medalogix, a provider of predictive analytics for home health and hospice customers, received a minority investment from Encompass Health.
Medical Informatics, a provider of patient monitoring and predictive analytics platform, raised $11.9 million in funding.
Maverick Medical AI, the developer of artificial intelligence-enabled predictive analytics software that identifies clinical risk factors out of medical reports, raised $700,000 in funding.
Digital Health Data Analytics companies raised $6 billion in VC funding since 2013, according Mercom data.