LeanTaas, a US-based healthcare management software producer that counts care provider NewYork-Presbyterian and insurance services firm Sedgwick as investors, secured $130m in series D funding yesterday.
Growth equity firm Insight Partners led the round, investing alongside investment banking firm Goldman Sachs. The company has now raised more than $250m altogether and it said over $150m of that amount has come from Insight Partners.
LeanTaas provides software that helps hospitals manage and most efficiently use capacity across its beds, operating rooms and outpatient clinics. It will put the cash toward improving its products and expanding its engineering, product and go-to-market teams.
Mohan Giridharadas, founder and chief executive of LeanTaas, said: “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 organisations deliver better care at a lower cost.”
Sedgwick led LeanTaas’s $3m seed round in 2015, before it added $9m from unnamed investors the following year. Insight Partners invested $26m in the company in 2017 and led its $15m series C round in late 2018, part of $61m it provided over that timeframe.
Goldman Sachs’ Merchant Banking Division supplied a further $40m in series C3 funding for LeanTaas in December 2019. NewYork-Presbyterian’s corporate venturing arm, NewYork-Presbyterian Ventures, was also an investor in the company as of March 2018.
