LeanTaaS, a predictive analytics and machine learning company specializing in improving healthcare operations closed a $130 million Series D funding round, bringing its total raised to over $250 million.
Insight Partners led the round with participation from Goldman Sachs. As part of the investment, Insight Partners’ Jeff Horing and Jon Rosenbaum and Goldman Sachs’ Antoine Munfa will join LeanTaaS’ Board of Directors.
According to the company, the new funds will be used to invest in building out the existing suite of products (iQueue for Operating Rooms,iQueue for Infusion Centers, and iQueue for Inpatient Beds) as well as scaling the engineering, product, and go to market teams, and expanding the iQueue platform to include new products.
LeanTaaS develops cloud-based SaaS solutions that are designed to solve complex operational problems in the healthcare industry.
Using advanced lean algorithms, the company predicts and matches the demand for expensive healthcare resources such as operating rooms, infusion chairs, ambulatory clinics, imaging assets, and inpatient beds. 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 said.
The company serves more than 300 hospitals and over 100 health systems across the United States.
“LeanTaaS is uniquely positioned to help hospitals and health systems across the country face the mounting operational and financial pressures exacerbated by the coronavirus. This funding will allow us to continue to grow and expand our impact while helping healthcare organizations deliver better care at a lower cost,” said Mohan Giridharadas, founder and CEO of LeanTaaS.
“Our company momentum over the past several years – including greater than 50% revenue growth in 2020 and negative churn despite a difficult macro environment – reflects the increasing demand for scalable predictive analytics solutions that optimize how health systems increase operational utilization and efficiency.”
Healthcare Data Analytics companies received $1.3 billion in venture capital in the first nine months (9M) of 2020, according to Mercom Digital Health Funding and M&A Report. Recently, Sema4, a patient-centered healthcare data analytics platform, announced that funds managed by BlackRock led its Series C financing round of $121 million at a post-money valuation of over $1 billion.