LeanTaaS, Inc., a Santa Clara, Calif.- and Charlotte, North Carolina-based software company that allows hospitals and health systems to increase access and lower cost through predictive and prescriptive analytics, closed a $40m Series C3 round of financing.
Goldman Sachs’ Merchant Banking Division made the investment, which was in addition to the $61m previously invested by Insight Partners over the three prior funding rounds beginning in November 2017. This brought the total amount raised within the last 24 months to $101m.
The financing will fund the continued expansion of the LeanTaaS iQueue platform and the hiring of key leaders in roles throughout the company including engineering, data science, product management, sales, and marketing.
Led by Mohan Giridharadas, founder and CEO, LeanTaaS provides software solutions that combine lean principles, predictive analytics, and machine learning to allow hospital and infusion center operations to to increase patient access, decrease wait times, reduce healthcare delivery costs, and improve revenue.
Approximately 80 health systems across the nation use the company’s iQueue cloud-based solutions, which currently consists of three solutions: iQueue for Infusion Centers, iQueue for Operating Rooms and iQueue for Clinics.
It uses optimization algorithms to match the demand for expensive healthcare resources — operating rooms, infusion chairs, ambulatory clinics, imaging assets, inpatient beds — with the availability of supply, taking hundreds of real-world operational constraints into account. The algorithms continuously learn by comparing the expected versus the actual operational performance in order to ensure that the impact is sustained well into the future.