100% Revenue Growth and 50% Customer Growth in 2019
LeanTaaS, a Silicon Valley software innovator that increases patient access and transforms operational performance for healthcare providers, 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.
- Growing industry recognition: In February, CB Insights named LeanTaaS to its 2019 CB Insights AI 100 list of most innovative artificial intelligence startups. In November, Healthcare Innovation recognized the company as the winner in the Data Analytics category of its 2019 Innovator Awards.
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“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.”