Software developer raises $40M from Goldman Sachs to expand analytics platform

LeanTaaS, a Santa Clara, California-based software company, announced the completion of a $40 million funding round courtesy of the merchant banking division at Goldman Sachs. Insight Partners has also invested another $61 million in the company since November 2017.

LeanTaaS develops products for healthcare providers designed to improve patient care through a mix of AI, lean principles and predictive analytics. The secured funding will go toward expanding the company’s iQueue platform, which helps health systems track the supply and demand of key resources through the use of “sophisticated optimization algorithms.” The platform includes three different solutions for healthcare providers: iQueue for Infusion Centers, iQueue for Operating Rooms and iQueue for Clinics.

Funding is also expected to go toward hiring more engineering, data science, product management, sales and marketing employees.

“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,” Mohan Giridharadas, founder and CEO of LeanTaaS, said in a prepared statement.

“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,” Antoine Munfa, a managing director from Goldman Sachs’ merchant banking division, said in the same statement.