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LeanTaaS Preps for Major Expansion in 2020 Following Record Year of Growth

12:53 EST 22 Jan 2020 | Businesswire
LeanTaaS
  • 100% revenue growth and 50% customer growth in 2019
  • Company staffing up to scale and launch new products: headcount to triple since last year
  • Secured $40M in funding from Goldman Sachs; over $100M raised in past 24 months

LeanTaaS, a Silicon Valley software innovator that increases patient access and transforms operational performance for healthcare providers, today announced major expansion plans for 2020, following record growth in 2019. Revenue more than doubled, fueled by a 50% increase in the customer base. The company now has signed contracts for nearly 300 infusion centers for its iQueue for Infusion Centers product and over 120 hospitals for iQueue for Operating Rooms. This includes 21 NCCNs, 33 NCIs and five of the top 10 health systems in the country. The company is now staffing up to support a number of new products coming this year, including the recent pilot of iQueue for Clinics.

“2019 marked a year of incredible growth for the company,” said Mohan Giridharadas, founder and CEO of LeanTaaS. “Today’s hospitals and health systems are looking to treat more patients with the resources in which they have already invested, and our solutions have repeatedly proven themselves with the biggest names in healthcare. We look forward to another groundbreaking year of helping to solve the very real and difficult problem of underutilization of resources in our healthcare system.”

Key milestones include:

  • The fight against cancer: iQueue for Infusion Centers is now being used by 21 National Comprehensive Cancer Network locations, 32 National Cancer Institute-recognized organizations, and 11 of the top 20 cancer hospitals, as ranked by U.S. News & World Report.
  • In the operating room: iQueue for Operating Rooms now directly manages almost 1,100 operating rooms throughout the country. Many health systems report improvements in OR utilization of 3% to 6%. On average, that translates to a financial impact of approximately $500,000 per OR per year. A Pacific Northwest-based health system reported an additional 390,000 minutes of OR capacity due to iQueue.
  • New funding round: In December, LeanTaaS announced it secured $40 million in funding from Goldman Sachs to bolster R&D and talent acquisition. The company is actively recruiting across all areas including engineering, data science, product management, sales, and marketing, following a year-long hiring spree that saw more than 100 employees join LeanTaaS in 2019. This C3 Series round brings the total raised in the last 24 months to over $100 million.

“It is so rewarding to see our solutions bend the access and cost curves in our customers’ favor and to the benefit of patients,” said LeanTaaS President Sanjeev Agrawal. “The company is poised for an exciting 2020. We’ve already nearly doubled in size since this time last year and are aggressively staffing up to help our new and existing customers improve how capacity is managed in their institutions.”

About LeanTaaS

LeanTaaS provides software solutions that combine lean principles, predictive analytics, and machine learning to transform hospital and infusion center operations. Approximately 80 health systems across the nation rely on the company’s iQueue cloud-based solutions to increase patient access, decrease wait times, reduce healthcare delivery costs, and improve revenue. LeanTaaS is based in Santa Clara, California, and Charlotte, North Carolina. For more information about LeanTaaS, please visit https://leantaas.com/, and connect on Twitter/LeanTaaS, Facebook/LeanTaaS and LinkedIn/LeanTaaS.

LeanTaaS and iQueue are trademarks of LeanTaaS. All other brand names and product names are trademarks or registered trademarks of their respective companies.

Tags: LeanTaaS, iQueue, healthcare, predictive analytics, infusion centers, cancer centers, operating rooms, clinics, predictive modeling, machine learning, hospitals, data science, data analytics, big data, lean principles, risk analytics, risk management

Dottie O'Rourke
TECHMarket Communications
(650) 344-1260
LeanTaaS@TECHMarket.com

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