LeanTaaS Acquisition, Valuation, Funding & Investors
LeanTaaS was acquired by Bain Capital for $1.3B in June 2022.
LeanTaaS acquisition price
$1.3B
Acquired by Bain Capital · Jun 2022
Cumulative funding LeanTaaS raised
$237M
across 7 funding rounds
Key investors in LeanTaaS
Insight Partners
Goldman Sachs
Goldman Sachs (merchant banking unit)
Sedgwick Claims Management Services
About LeanTaaS
LeanTaaS is a Santa Clara, California-based provider of cloud software that applies lean principles, predictive analytics, and machine learning to hospital operations. Its iQueue platform matches demand for resources such as infusion chairs, operating rooms, and inpatient beds with available supply, helping hospitals and health systems increase patient access, reduce wait times, and lower costs. The company works with hundreds of hospitals and health systems across the United States, led by founder and CEO Mohan Giridharadas.
Founded
2010
HQ
United StatesWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.3B (acquired Jun 2022)
LeanTaaS Acquisition
LeanTaaS was acquired by Bain Capital for $1.3B on 6 June 2022.
Before the acquisition LeanTaaS had raised $237M across 7 funding rounds.
LeanTaaS, a Santa Clara-based provider of cloud software solutions combining lean principles, predictive analytics, and machine learning to optimize hospital operations including infusion chairs, operating rooms, and inpatient beds, announced on June 6, 2022, that Bain Capital Private Equity acquired a majority stake from Insight Partners and Goldman Sachs Growth Equity. The transaction includes a significant growth capital commitment from Bain to accelerate expansion, product innovation, market penetration, and potential strategic acquisitions. Insight Partners and Goldman Sachs retained material minority stakes, with founder and CEO Mohan Giridharadas continuing to lead the company, which serves over 500 hospitals and 130 U.S. health systems. The deal values LeanTaaS at about $1.25 billion according to WSJ reporting, positioning it for next-stage growth in healthcare AI and automation amid post-COVID pressures on hospital capacity, patient access, and efficiency. Bain highlighted LeanTaaS's strong net retention rate of 117% and 40% year-over-year growth over the prior two years. William Blair advised LeanTaaS, Evercore advised Bain, with the investment expected to close in Q3 2022 subject to regulatory approvals.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 6 Jun 2022 | PE buyout | $1.3B |
LeanTaaS Funding History
LeanTaaS has raised a total of $237M across 7 funding rounds.
LeanTaaS's first fundraising round was a $3M seed round in October 2015. The most recent completed round was a $130M Series D in December 2020.
LeanTaaS funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2020 | Series D | Insight Partners (lead); Goldman Sachs | $130M | LeanTaaS, a Silicon Valley-based software innovator, announced a $130 million Series D funding round on December 10, 2020, led by Insight Partners with participation from Goldman Sachs. The round brought the company's total cumulative funding to over $250 million, with Insight Partners having invested more than $150 million across multiple rounds beginning in November 2017. As part of the transaction, Jeff Horing and Jon Rosenbaum from Insight Partners and Antoine Munfa from Goldman Sachs joined LeanTaaS' Board of Directors. The company's iQueue platform provides predictive and prescriptive analytics solutions designed to help hospitals and health systems improve operational efficiency and patient access while reducing costs. The platform comprised three main solutions and had achieved broad adoption, with deployments covering 9,500 infusion chairs, 2,500 operating rooms, and 4,000 inpatient beds by 2020. LeanTaaS served more than 100 health systems and 300 hospitals across the country. During 2020, despite pandemic-related pressures on the healthcare sector, the company demonstrated strong operational momentum with greater than 50% revenue growth and negative churn. The company also secured an additional $5 million in funding from UPMC Enterprises and MemorialCare during 2020, bringing the total number of health system investors to five. This capital infusion was intended to accelerate the expansion of the iQueue platform and support continued growth in market presence and customer impact as healthcare organizations navigated mounting financial and operational pressures from the coronavirus pandemic. |
| Dec 2019 | Series C | Goldman Sachs (merchant banking unit) (lead) | $40M | LeanTaaS, a Santa Clara, California-based company, develops cloud-based SaaS solutions using predictive analytics, machine learning, and lean principles to optimize healthcare operations. Its iQueue platform matches demand for resources like operating rooms, infusion chairs, imaging assets, and inpatient beds with supply availability, aiming to increase patient access, reduce wait times, improve staff satisfaction, and lower costs. The company serves over 100 hospital systems and 900 operating rooms across the US, with clients reporting OR utilization improvements of 3-6%, equating to about $500,000 financial impact per OR annually. In December 2019, LeanTaaS closed a $40 million Series C3 funding round led by Goldman Sachs’ Merchant Banking Division, bringing total VC funding to over $100 million in the past two years, including $61 million from Insight Partners across prior rounds. Proceeds will fund platform development, talent acquisition in engineering, data science, product management, sales, and marketing, following a 2019 hiring spree that doubled headcount with over 85-100 new employees. The company achieved 100% revenue growth and 50% customer growth in 2019. LeanTaaS positions itself in the digital health data analytics sector, which raised $6 billion in VC since 2013. Backed by investors like Insight Partners and Goldman Sachs, the company plans to expand its iQueue platform with new products for health systems amid a $3 trillion US hospital asset market. |
| Jun 2019 | Series A | - | $14M | LeanTaaS, a Silicon Valley-based software company, develops AI-powered iQueue platform using lean principles, predictive analytics, and machine learning to optimize healthcare operations including infusion centers, operating rooms, and inpatient beds. The platform increases patient access, reduces wait times, improves staff satisfaction, and lowers delivery costs for over 100 health systems. In June 2019, LeanTaaS raised $40 million in a Series C extension round led by Goldman Sachs Merchant Banking Division. This followed a prior Series C of $15 million in November 2018 led by Insight Partners, bringing total raises in the prior year to $101 million. Funds supported hiring in engineering, data science, product management, sales, and marketing, nearly doubling the team by adding over 85 people including leaders from Rally Health, GE Centricity, Epic, and Cerner. The company demonstrated traction with customers like MultiCare Health System, where surgery patients were seen weeks earlier due to a 300% increase in operating room minutes. LeanTaaS continued growth with a $130 million Series D in December 2020 led by Insight Partners and Goldman Sachs. |
| Nov 2018 | Series C | Insight Partners (lead) | $15M | LeanTaaS, a Silicon Valley-based predictive analytics and machine learning company, develops the iQueue platform to improve healthcare operations by lowering wait times, increasing patient access, and enhancing asset utilization in operating rooms, infusion centers, and clinics. The company serves over 50 nationally acclaimed institutions. On November 13, 2018, LeanTaaS closed a $15 million Series C funding round led by existing investor Insight Partners to accelerate growth and expand deployment of the iQueue platform. Insight Partners, a board member at LeanTaaS, highlighted the platform's impact on solving access to care issues through digital scheduling and throughput improvements. |
| Nov 2017 | Series B | Insight Partners (lead) | $26M | LeanTaaS is a Silicon Valley software company that increases patient access and transforms operational performance for healthcare providers using predictive analytics and machine learning technology. The company's platform integrates with care providers' electronic health record systems and uses advanced analytics to optimize scheduling and the use of assets such as operating rooms, inpatient beds, and diagnostic imaging equipment to reduce patient wait times and increase access. In November 2017, LeanTaaS announced a $26 million Series B round of financing led by Insight Venture Partners. The investment was intended to accelerate growth and continued development of the company's healthcare management platform. At the time of the Series B, LeanTaaS had more than 40 organizations in the US using the software and had assembled deep customer partnerships with leading health systems across the country. The company's founder and CEO, Mohan Giridharadas, stated that the investment validated their approach of combining lean principles, predictive analytics, and scalable software to drive improvements in operational performance and asset utilization in healthcare operations. |
| Jul 2016 | Series B | - | $9M | LeanTaaS raised USD 8,999,994 in its Series B funding round in July 2016 to further develop and scale its software solutions. The company, founded in 2010, provides cloud-based software combining lean principles, predictive analytics, and machine learning to optimize healthcare operations such as infusion centers and operating rooms. This round followed a Series A of USD 750,000 in May 2010. LeanTaaS's iQueue platform matches demand for healthcare resources like operating rooms, infusion chairs, and inpatient beds with supply availability, aiming to increase patient access, reduce wait times, and improve operational performance. Subsequent rounds included a USD 26 million Series B in November 2017 led by Insight Partners, USD 15 million Series C in November 2018 also led by Insight Partners, and a USD 40 million Series C extension from Goldman Sachs. By December 2020, LeanTaaS raised USD 130 million in Series D led by Insight Partners with Goldman Sachs participation, bringing total funding over USD 250 million. |
| Oct 2015 | Seed | Sedgwick Claims Management Services (lead) | $3M | LeanTaaS raised $3 million in an undisclosed round on October 20, 2015, led by Sedgwick Claims Management Services. The funding supported expansion of the company's product offerings and market reach. LeanTaaS develops a cloud-based healthcare management platform that integrates with electronic health record systems, using predictive analytics to optimize scheduling for operating rooms, inpatient beds, and diagnostic imaging equipment to reduce patient wait times and increase access. At the time, LeanTaaS had previously secured $750,000 in equity funding in 2010 and $525,000 in convertible note financing in 2012. The company had more than 40 organizations using its software in the US. Sedgwick Claims Management Services, a leading global provider of technology-enabled risk, benefits, and integrated business solutions, focused on risk management and benefits administration. |
Who has invested in LeanTaaS?
4 investors have backed LeanTaaS across its funding rounds, including Insight Partners, Goldman Sachs, Goldman Sachs (merchant banking unit) and Sedgwick Claims Management Services.
Lead investors include Insight Partners, Goldman Sachs (merchant banking unit) and Sedgwick Claims Management Services.
LeanTaaS Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 3 | Lead | Nov 2017 | |
| New York City, NY | 1 | Lead | Dec 2019 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by LeanTaaS
LeanTaaS has acquired 2 companies to date.
Last acquisition by LeanTaaS was on September 1st 2026. LeanTaaS acquired Aidin for undisclosed valuation.
Latest Acquisitions by LeanTaaS
| Description | Aidin is a workflow automation platform built for hospital discharge teams. It generates provider directories automatically and supplies outcome metrics that help case managers match patients to suitable post-acute facilities. | Hospital IQ is a predictive analytics platform optimizing hospital operations through operations research. It partners with institutions like Brigham and Women’s Hospital to enhance capacity planning, scheduling, staffing, utilization, and throughput across single sites or networks. Automated tools deliver reporting, modeling, and forecasts for data-driven decisions in patient flow and resource allocation. |
| HQ Country | | |
| HQ City | New York City, NY | Boston, MA |
| Deal Date | 1 Sep 2026 | 10 Jan 2023 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all LeanTaaS acquisitions and their M&A valuation multiples. Start Free Trial | ||
LeanTaaS Competitors
LeanTaaS competitors include listed companies like Claritev and U.S. Physical Therapy, and private ones like Huma.AI, Uptake Technologies, MasterControl and AgentSync.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Raleigh, NC | Private | - | - | $1B | - | |
| United States | Private | $100M | - | $2.3B | 23.0x | |
| United States | Publicly listed | $965M | $466M | $538M | 5.2x | |
| Salt Lake City, UT | Private | $100M | - | $1.3B | 13.0x | |
| Denver, CO | Private | $11M | - | $1.2B | 109.1x | |
| United States | Publicly listed | $781M | $110M | $1.2B | 2.3x |
LeanTaaS Public Comps
LeanTaaS is no longer listed, but its public comps include U.S. Physical Therapy, Red Violet, Clarivate, EverCommerce, PHC Holdings, Vitec Software, iFLYHealth, Indegene, Omnicell and HealthStream.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $781M | $110M | 2.5x | 2.3x | 17.5x | 18.9x | |||
| $90M | $24M | 13.2x | 11.7x | 50.0x | 31.7x | |||
| $2.5B | $829M | 2.1x | 2.2x | 6.3x | 5.3x | |||
| $589M | $128M | 3.0x | 2.9x | 13.7x | 9.5x | |||
| $2.3B | $320M | 1.0x | 1.0x | 7.2x | 6.5x | |||
| $371M | $151M | 3.7x | 3.5x | 9.1x | 9.0x | |||
| $136M | ($7M) | 7.7x | 6.2x | (150.8x) | (144172.5x) | |||
| $366M | $68M | 3.7x | 3.3x | 19.9x | 18.2x | |||
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Common questions about LeanTaaS
| When was LeanTaaS founded? | LeanTaaS was founded in 2010. |
| Where is LeanTaaS headquartered? | LeanTaaS is headquartered in United States. |
| Is LeanTaaS publicly listed? | No, LeanTaaS was acquired by Bain Capital in June 2022. |
| Who acquired LeanTaaS? | LeanTaaS was acquired by Bain Capital in June 2022. |
| How much was LeanTaaS acquired for? | LeanTaaS was acquired for $1.3B in June 2022. |
| How much funding has LeanTaaS raised? | LeanTaaS has raised $237M across 7 funding rounds. |
| What was LeanTaaS's last funding round? | LeanTaaS's last funding round was a $130M Series D in December 2020, led by Insight Partners. |
| Who are LeanTaaS's investors? | LeanTaaS's investors include Insight Partners, Goldman Sachs (merchant banking unit), Sedgwick Claims Management Services and Goldman Sachs. |
| Which companies are comparable to LeanTaaS? | Companies comparable to LeanTaaS include Huma.AI, Uptake Technologies, Claritev, MasterControl, AgentSync and U.S. Physical Therapy. |
| How many companies has LeanTaaS acquired? | LeanTaaS has acquired 2 companies, including Aidin and Hospital IQ. |
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