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Insight Venture Partners Invests $26M Series B in LeanTaaS to Fuel Growth of Healthcare Operations Platform

Predictive Analytics and Machine Learning Technology Lowers Wait Times, Increases Patient Access and Improves Operational Performance

SANTA CLARA, Calif. — Nov. 14, 2017 — LeanTaaS, Inc., a Silicon Valley software innovator that increases patient access and transforms operational performance for healthcare providers, today announced that new investor Insight Venture Partners, a leading global venture capital and private equity firm, has invested $26 million in a Series B round of financing.

“Healthcare is a difficult space in which to bring about radical change,” said Jeff Horing, co-founder and managing director of Insight Venture Partners. “We are impressed by the quality of deep customer partnerships, the product portfolio and the team that LeanTaaS has assembled.”

The company’s solutions — relied upon by more than 40 of the nation’s leading hospitals and infusion centers — use lean principles, predictive analytics, machine learning and the cloud to dramatically improve the patient experience. LeanTaaS customers have reduced wait times for appointments and surgeries by up to 50 percent, increased patient access by as much as 30 percent and improved operational performance up to 20 percent through increased revenue and reduced costs.

The mathematical foundation on which patient appointments are scheduled is fundamentally flawed. As a result, expensive assets like infusion chairs, operating rooms, diagnostic imaging equipment and inpatient beds are commonly over- and underutilized, often on the same day.

LeanTaaS has quickly emerged as the leader in using advanced data science and mathematics to address this perplexing paradox. The company’s patent-pending algorithms help providers do more with existing assets and defer investments in additional staff, equipment and facilities. LeanTaaS solutions also improve surgeon access to valuable operating room time, lower wait times for patients and level-load the day for anesthesiologists, nurses and staff.

“We are privileged to work with many of the leading health systems in the country to demonstrate the impact of combining lean principles, predictive analytics and scalable software to drive significant improvements in operational performance and asset utilization,” said Mohan Giridharadas, founder and CEO of LeanTaaS. “This investment from Insight Venture Partners is a strong validation of our approach and will enable us to dramatically accelerate our growth over the coming years.”

The financing will fund continued investment in the LeanTaaS iQueue platform, which currently consists of two solutions: iQueue for Infusion Centers and iQueue for Operating Rooms. In May 2017, the company also established iQueue Labs, which explores answers to emerging, significant operational challenges in diagnostic imaging departments, emergency departments, pharmacies, labs and inpatient beds. The iQueue platform is a cloud service that works with any electronic health record and requires only minimal assistance by the provider’s internal IT staff to set up and use.

LeanTaaS joins an Insight Venture Partners portfolio that already boasts five companies on Inc.’s annual ranking of the fastest-growing private companies in America.

About LeanTaaS

LeanTaaS provides software solutions that combine lean principles, predictive analytics and machine learning to transform hospital and infusion center operations. More than 40 providers across the nation rely on the company’s iQueue cloud-based platform to increase patient access, decrease wait times, reduce healthcare delivery costs and improve revenues. LeanTaaS is based in Santa Clara, California.  For more information about LeanTaaS, please visit www.leantaas.com, and connect on Twitter/LeanTaaSFacebook/LeanTaaSand LinkedIn/LeanTaaS.

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

November 14, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Caremerge Raises $14 Million in Second Institutional Round Led By Insight Venture Partners As Value Based Care Takes Shape In Post-Acute Care

CHICAGO, IL July 13, 2016Caremerge, the revolutionary industry pioneer paving the way for care coordination and communication solutions to bridge care gaps across the care continuum and get providers ready for value-based care, today announces a $14 Million investment led by Insight Venture Partners, with participation from previous investors Grażyna Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures, and Arsenal Venture Partners.

The capital enables Caremerge to fund their continued and exponential growth and expansion in the post-acute care market by leveraging its transformative cross-enterprise workflow automation technology to break healthcare information silos – put simply to get the right information at the right time to the right provider so the right decision can be made for the best possible outcome.

In 2016, Caremerge evolved its offerings in order to better prepare post-acute care providers for the value-based care model. The person-centered Caremerge platform acts as a connector across the entire continuum, bringing together many stakeholders including hospitals, MCO’s, ACO’s, physicians, other long-term care providers, families and seniors/patients, to collaborate more proactively for best outcomes and peace of mind.

The investment round sees new additions to the Caremerge Board of Directors. Harley Miller, Vice President at Insight Venture Partners and Dan Hermann, Senior Managing Director and Head of Investment Banking at Ziegler will join the board of directors.

“We are excited to become part of the Caremerge story, we share the same belief that the next era of healthcare, driven by value-based care (ACA) requires a simple, yet flexible platform capable of breaking healthcare silos while placing the patient at the center, and allowing for cross-enterprise workflow automation” said Harley Miller, Vice President, Insight Venture Partners.

Asif Khan, Caremerge’s CEO and co-founder, said: “We’re delighted to welcome Insight Venture Partners into the Caremerge family. Insight has tremendous expertise in scaling SaaS companies and we look forward to harnessing all Insight has to offer and exponentially growing Caremerge together”.

Caremerge’s care coordination platform helps providers on many fronts with tailored solutions to support them on their journey from volume to value-based care.  Caremerge offers Totally Connected Care:

  • Clinical & Compliance Solutions
  • Life Enrichment & Engagement Solutions – patients, families, and providers
  • OPEN API integrations for full interoperability, especially with many leading EHRs
  • CMS Value-Based Care Solutions
  • Hospital discharge and patient tracking into post-acute care

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About Caremerge:

Caremerge forges meaningful connections among providers, families and seniors seeking to improve communication in today’s complex healthcare environment, while meeting value-based care requirements.  With a transformative, easy-to-use cloud-based care coordination network, Caremerge connects the entire care team to streamline cross-enterprise workflows among providers, engage families and patients and improve overall wellness resulting in reduced costs, enhanced experiences and more positive outcomes. To learn more, visit caremerge.com ortwitter.com/caremerge.

About Insight Venture Capital Partners:

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on Twitter: @insightpartners.

About Arsenal Venture Partners:

Arsenal Venture Partners is a multi-stage venture capital firm that invests at the intersection of government, large corporations, and emerging technology companies. We partner with visionary entrepreneurs to build exceptional businesses in the healthcare, commerce and logistics, enterprise, and resource efficiency sectors. We foster relationships through our unique network and nearly fifteen years of experience working with, among others, the Department of Defense, Veterans Administration, United States Post Office, and Fortune 500 companies. Arsenal Venture Partners has twenty-two investment professionals in four offices across the United States.

About Cambia Health Solutions:

Cambia Health Solutions, headquartered in Portland, Oregon, is a nonprofit total health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. Cambia’s growing family of companies range from software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, we are delivering solutions that make quality health care more available, affordable and personally relevant for everyone. To learn more, visit cambiahealth.com ortwitter.com/cambia.

About GE Ventures:

GE (NYSE: GE) (www.GE.com<http://www.ge.com/>) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.GE.com<http://www.ge.com/>

About Grażyna Kulczyk:

Grażyna Kulczyk is a noted investor, art collector and philanthropist. Ms. Kulczyk invests in innovative, entrepreneurial startups that directly work to serve the needs of society with simple technology that has the potential to scale globally. Her diverse portfolio includes medical, media and advertising startups.

About Ziegler:

Ziegler is a privately held investment bank, capital markets, wealth management and alternative investments firm. Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance, enables us to generate a positive impact on the communities we serve. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research.

About Ziegler LinkAge Longevity Fund:

The increasing aging population of the United States presents an attractive investment opportunity, given the size, growth and complexity of needs of this population within a continually evolving healthcare system. While the current venture capital and start-up market generally has a broad focus across the landscape of acute healthcare providers, this fund takes a concentrated approach by investing in companies that serve the Longevity Economy. The fund sponsors, Ziegler and Link-Age, leverage their domain knowledge and relationships to find attractive investment opportunities through an investment management team with relevant experience in the space. The objective of the Fund is to achieve long-term capital appreciation by making equity and equity-like (including convertible debt) investments in early to mid-stage, emerging-growth companies that operate in or develop businesses focused on the Longevity Economy.

July 13, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.