Israeli mental health care company AI Elios health Today it announced the completion of a $60 million Series C funding round led by Greenfield Partners, with participation from existing investors F-Prime Capital, Eight Roads, Menlo Ventures, and ION, and new investors including the Michael & Susan Dell Foundation, Union Tech Ventures, and Centrestone. . This round brings the total amount raised by Elios to more than $120 million.
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AI behavioral health company Eleos Health raises $40 million
Eleos develops AI solutions that help professionals transform care by overcoming bureaucratic hurdles and administrative burdens. The company will use the new investment funds to expand its offerings, grow its commercial team and enter underserved segments of behavioral healthcare including substance use disorder (SUD) treatment centers. Post-acute behavioral healthcare, an $11 billion market historically underfunded by health technology, is a key focus of Eleos’ growth strategy.
The company was founded in 2020 by CEO Alon Jovi, CTO Alon Rabinovitch and COO Dror Zed. Joffe says the company’s product has been installed by about 130 customers, organizations that provide mental health care to tens of thousands of patients. The company’s revenues already amount to tens of millions of dollars. Elios has 160 employees, about half of whom are in Israel.
The company also announces the launch of a powerful new clinical documentation improvement (CDI) product, Eleos Compliance. Developed with the guidance of legal and regulatory experts maintained by the National Council on Mental Health, Eleos Compliance gives behavioral health organizations a near-real-time review of every progress note submitted. Leverage Agent AI – the next generation of AI that proactively displays insights. Eleos Compliance flags potential errors in documentation before they result in hefty fines or refunds. This proactive approach streamlines the appeals process and supports ongoing accreditation efforts.
Published by Globes, Israel Business News – en.globes.co.il – on January 22, 2025.
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