$105M Series D led by KKR - January 2025 Valuation: $400M+ 36,000+ excess hospital days eliminated in 2024 KLAS Score: 92.5 in Capacity Management 120% Net Revenue Retention Customer base 4x since 2022 500,000+ surgeries touched by platform $95M annualized OR contribution margin generated in 2024 Co-Founder & CEO: Qventus, Inc. Stanford MS EE + MBA $105M Series D led by KKR - January 2025 Valuation: $400M+ 36,000+ excess hospital days eliminated in 2024 KLAS Score: 92.5 in Capacity Management 120% Net Revenue Retention Customer base 4x since 2022 500,000+ surgeries touched by platform $95M annualized OR contribution margin generated in 2024 Co-Founder & CEO: Qventus, Inc. Stanford MS EE + MBA
Mudit Garg, CEO of Qventus CEO & Co-Founder

Mountain View, CA  |  Healthcare AI  |  Founded 2012

Mudit Garg

Co-Founder & CEO  —  Qventus, Inc.

The hospital's biggest problem is not a medical one. It's a logistics one. Mudit Garg figured this out at McKinsey, then spent the next twelve years building the system that fixes it.

$400M+ Valuation (2025)
$105M Series D (KKR)
36K+ Hospital days freed in 2024
120% Net revenue retention

The Logistics Problem Nobody Wanted to Solve

Every hospital Mudit Garg visited during his years at McKinsey told the same story. The equipment was state-of-the-art. The clinicians were exceptional. The therapy was evidence-based and precise. Then he looked at how the place actually ran - how a patient got from admission to a bed to surgery to discharge - and the picture shifted. "It was just unbelievable," he said. The burden of coordination fell entirely on staff. The logistics were, in his words, held together by duct tape and fax.

That observation was not a metaphor. It was a product specification. Garg, who studied electrical engineering at IIT before earning dual degrees at Stanford, saw the problem the way an engineer sees a broken system: as something that could be redesigned. So in 2012, he co-founded Qventus.

Thirteen years later, Qventus sits at the center of one of the most pressing economic problems in American medicine. Operating rooms that run at 70% capacity. Discharge bottlenecks that stretch two-day stays into five. Staff managing patient logistics through phone calls, spreadsheets, and institutional memory. The costs are staggering. The waste is invisible to patients and only partially visible to administrators.

Garg built a platform to make it visible - and then to fix it automatically.

"I saw world-class equipment, world-class therapy and world-class clinicians in every hospital I went to. But when I saw how everything was held together, and how all the burden of coordinating the logistics landed on the patients and staff, it was just unbelievable."
- Mudit Garg, HIStalk Interview

What Twelve Years of Compound Work Looks Like

Qventus 2024 Performance Metrics

36,000+
Excess hospital days eliminated for partners
$95M
Annualized OR contribution margin generated
500K+
Surgeries touched by platform
35%
Increase in robotic surgical cases
4x

Customer Growth

Customer base quadrupled since 2022, with 100% of KLAS respondents including Qventus in their long-term plans.

92.5

KLAS Score (2024)

Top-ranked in capacity management segment. A number hospitals watch like a surgical mortality rate.

120%

Net Revenue Retention

Customers expand, not churn. A signal that the product earns its place in the hospital's operating room, literally and financially.

From "Something Is Wrong" to "I Already Fixed It"

Garg describes Qventus's AI evolution using a personnel analogy that cuts straight to the point. An early AI system tells a nurse: there's a problem. A better one adds: here's what you might do. Better still: this is the best option - I'll do it unless you say otherwise. And the real goal: there was a problem. There is no longer a problem.

That last rung is where Qventus is headed. The platform has evolved from a data-display tool into what Garg calls an "AI operational assistant" - a system that takes autonomous action on discharge planning, surgical scheduling, OR utilization, and inpatient capacity without requiring a clinician to interpret a dashboard.

The operating room is where this matters most. Even in primetime, hospital ORs run at roughly 70% utilization - 30% empty despite patients and surgeons who can't get appointments. Qventus's surgical growth module works to release blocked OR time, and the results are measurable in hours, not percentages: hundreds of OR hours freed per month, per hospital.

Garg is deliberate about what Qventus is not. "We are not an AI scribe company," he said plainly. AI scribes - tools that transcribe clinical notes - have become a crowded commodity. Qventus operates in a harder, less glamorous, and more valuable layer: the operational logic that determines whether a hospital runs efficiently or hemorrhages cost.

His product philosophy reflects his engineering background: the best tool is invisible. "Like a really good assistant," he has said - one that delivers the right insight at the right moment without adding cognitive load to an already-stretched clinical team. The nurses he spoke with early on were direct: "I don't have time to figure out 30 percent chance do this, 40 percent chance do that." So Qventus stopped showing probabilities and started giving recommendations. Then it started acting on them.

The January 2025 Series D - $105M led by KKR - accelerated that trajectory. Three of Qventus's own hospital customers joined as strategic investors: Northwestern Medicine, HonorHealth, and Allina Health. That's not just a vote of confidence. It's a signal that the people running hospitals believe this platform is becoming infrastructure.

"The operating room is a crucial financial engine for hospitals - but it's held together by duct tape and fax."
- Mudit Garg, Becker's Hospital Review

Garg's candor about the funding is notable. "We needed neither equity nor debt," he said of the KKR round, "but it was an opportunity." Qventus was already close to breaking even. The raise was not rescue - it was positioning. He sees the market ahead clearly enough to want capital available for what comes next, and patient enough not to be pushed by necessity.

That temperament - engineer's patience, operator's timing - runs through how Garg talks about AI in healthcare broadly. He pushes back on the idea that AI is new to hospital administration: "Machine learning has already been in this space for 12 years," he noted in early 2025. What's changed is the capability to act, not just analyze. His decade of building gave Qventus deep institutional knowledge of how hospitals actually make decisions, a moat that's harder to build than any model.

The Path Here

Before 2007
Bachelor's degree, Indian Institute of Technology. The foundation: electrical engineering, systems thinking, deep technical formation.
2007 - 2009
Consultant, McKinsey & Company Healthcare Practice. Works with large health providers on organizational transformation. Sees the logistics gap firsthand in hospital after hospital.
2010 - 2012
Stanford University: MS in Electrical Engineering + MBA simultaneously. Also co-founds Vdopia and Hive. Builds the foundation for what becomes Qventus.
2012
Co-founds Qventus in Mountain View, CA. Mission: automate the operational burden on healthcare staff using AI.
2018
Qventus named among Fast Company's Most Innovative Companies. Platform deployed in 60-65 hospitals across the US.
2022
Company valued at ~$200M. Surgical growth module launches. Begins rapid expansion of hospital partnerships nationwide.
2024
Platform handles 500,000+ surgeries. Achieves 92.5 KLAS score. Customer base quadruples. Named to Silicon Valley Business Journal 40 Under 40.
January 2025
Announces $105M Series D led by KKR. Valuation exceeds $400M. Northwestern Medicine, HonorHealth, and Allina Health join as strategic investors.
2025
Co-develops custom AI agent solutions with Allina Health. Launches AI Solution Factory to accelerate healthcare AI rollouts at partner systems.

How Mudit Garg Thinks

"Across the country, health care teams have to do extraordinary things to get ordinary things done every single day."
"The true success of AI is in understanding the job to be done very deeply. Working closely with customers is critical to the success of the work."
"We are not an AI scribe company. We focus on an area of operations where there is a huge pain point."
"Even when looking at OR primetime it is often 30% unutilized - despite surgeons and patients not finding access quickly enough."
"Machine learning has already been in this space for 12 years. What's changed is the capability to act on it."
"I needed neither equity nor debt - but it was an opportunity to maximize what's ahead of us with a great partner like KKR."

What the Record Shows

Silicon Valley Business Journal 40 Under 40
Led Qventus to Fast Company's Most Innovative Companies (2018)
$105M Series D led by KKR at $400M+ valuation (January 2025)
Qventus achieved 92.5 KLAS score - capacity management segment leader
Platform eliminated 36,000+ excess hospital days for partners in 2024
Generated $95M annualized OR contribution margin for health system partners
Stanford-StartX mentor, supporting the next generation of Stanford founders
Grew Qventus customer base 4x since 2022 with 120% net revenue retention

The Vision That Drives It

Garg grew up in India and built his career studying both sides of the healthcare spectrum. His goal has never been to improve one hospital's metrics. The aim is systemic: to remove the operational burden from healthcare workers globally, so the people with the clinical skills can spend their time on the patients who need them - not on logistics, scheduling, and coordination that machines can handle. That framing - global, structural, long-term - explains why he keeps building even when the business could coast.

Details That Stick

2

Stanford degrees earned simultaneously - MS in Electrical Engineering plus an MBA, 2010 to 2012.

3

Companies co-founded: Vdopia, Hive, and Qventus. The third one stuck.

12

Years machine learning had already been in healthcare admin before the AI hype wave arrived. Garg knew this firsthand.

Healthcare AI Hospital Operations Founder Stanford IIT McKinsey Alumni KKR Portfolio Series D OR Efficiency Patient Flow Enterprise SaaS Mountain View

Find Mudit Garg Online

In the Press

TechCrunch

Qventus nabs $105M at a $400M+ valuation

HIStalk

HIStalk Interviews Mudit Garg, CEO, Qventus

Becker's Hospital Review

5 Qs with Qventus CEO on OR efficiency

Qventus Newsroom

$105M Series D announcement

HIT Consultant

AI assistants for optimal health system efficiencies

HCI Innovation Group

Allina Health & Qventus co-developing custom AI agents