What You Should Know:
– Eleos Health, a pioneer in AI-driven solutions for behavioral health secures $60M in Series C funding round led by Greenfield Partners. The funding round includes participation from existing investors such as F-Prime Capital, Eight Roads, Menlo Ventures, and ION, as well as new investors like the Michael & Susan Dell Foundation, Union Tech Ventures, and Centerstone.
– The latest investment brings Eleos’ total funding to over $120M and underscores the company’s rapid growth and market leadership in the behavioral health AI space.
Expanding into Underserved Markets
Eleos plans to use the new funding to expand its product offerings, grow its commercial team, and push into underserved segments of behavioral healthcare, with a particular focus on substance use disorder (SUD) treatment centers. The company recognizes the significant need for innovative solutions in the post-acute behavioral healthcare market, an $11 billion sector that has historically been underfunded by health tech.
Launching Eleos Compliance for Enhanced Clinical Documentation
Coinciding with the Series C announcement, Eleos has launched a powerful new clinical documentation improvement (CDI) product called Eleos Compliance. Developed with guidance from legal and regulatory experts, Eleos Compliance provides behavioral health organizations with near-instant review of every submitted progress note.
Leveraging agentic AI, the next generation of AI that proactively surfaces insights, Eleos Compliance flags potential documentation errors before they can lead to costly fines or payment clawbacks. This proactive approach simplifies the appeals process and supports ongoing accreditation efforts.
Recent Traction/Milestones
Eleos has achieved remarkable growth, tripling its annual revenue in each of its first three years and doubling its revenue in 2024. With over 120 customer organizations in more than 30 states, Eleos is the most widely deployed AI platform in behavioral health today. Eleos plans to use the Series C funding to further enhance its AI technology, expand its product portfolio, and grow its team.
“From day one, Eleos has been committed to empowering clinicians — not replacing them — and expanding their capacity,” said Alon Joffe, Co-Founder and CEO of Eleos. “By building on our agents for clinical documentation and patient engagement, our new Compliance product is the next step in our mission to free up clinicians’ time and energy to focus on care rather than administrative bottlenecks. With this round of funding, we’re doubling down on the development of intelligent AI systems that drive efficiency and help providers capture the revenue they need to thrive and reach more people in need.”
