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Eleos Health raises $6 million Seed funding to accelerate clinicians' decision-making

Eleos Health raises $6 million Seed funding to accelerate clinicians' decision-making

The Israeli startup’s AI-powered Speech-to-Insights system for clinicians aims to provide more accessible, efficient, personalized and time and cost-effective care

CTech | 18:29  13.09.2021
Israeli digital health startup Eleos Health announced on Monday the close of $6 million in seed funding to develop and launch their new category of automated healthtech solutions that accelerate clinicians’ decision-making. The company’s AI-powered Speech-to-Insights system for clinicians aims to provide more accessible, efficient, personalized and time and cost-effective care. This new round of funding will be used to support the expansion of sales, marketing, and solution delivery teams needed to meet the demand for enterprise software deployments across providers and payors.

This round of funding was led by aMoon Fund, Israel’s largest healthtech fund, with participation from lool ventures, who led the company’s pre-seed round, and Gandyr Group, alongside Arkin Holdings, Geingels and former c-suite and executives from Google, MIT Media Lab, and Pegasystems. The ninth Secretary of the US Department of Veterans Affairs, Dr. David Shulkin has joined the company’s board.

Eleos Health’s co-founders Alon Joffe, Dror Zaide and Alon Rabinovich. Photo: Omri Mayron Eleos Health’s co-founders Alon Joffe, Dror Zaide and Alon Rabinovich. Photo: Omri Mayron Eleos Health’s co-founders Alon Joffe, Dror Zaide and Alon Rabinovich. Photo: Omri Mayron

Founded in 2020, Eleos Health’s co-founders Alon Joffe, Dror Zaide, Alon Rabinovich and Dr. Shiri Sharvit identified a substantial gap between the surge in demand for behavioral health service – a shortage of 4.5 million behavioral health clinicians is forecasted by 2025 – coupled with the fact that clinicians’ best tool is still their notebook. Eleos delivers modern VoiceAI capabilities in an industry relatively untouched by technology, enabling clinicians and care teams to provide greater access to more personalized, effective care with dramatically improved outcomes. Eleos’s advanced VoiceAI technology securely runs in the background of behavioral health sessions, analyzing hundreds of data parameters within each session, to provide new actionable insights that enable clinicians to make data-informed decisions.

To date, Eleos has already deployed its solution with over a dozen leading provider organizations such as Solvista Health, Achieve, Yeshiva University and ReachLink who are all proactively addressing the growing burnout of staff. Providers are leveraging Eleos’ comprehensive therapy dataset - which is one of the largest in the world, containing more than 1,200,000 minutes of curated treatment encompassing over 14,000,000 in-session moments. Eleos’ solution translates this data into actionable feedback which clinicians can use to drive clinical and operational efficiencies.

“The demand for behavioral health services has skyrocketed since the pandemic,” said Alon Joffe, Founder and CEO of Eleos Health. “More than 35 million additional Americans are experiencing a behavioral health condition which resulted in $140 billion additional healthcare spend in the first 12 months post-onset of the Covid-19 pandemic. In normal times, around 40% of clinicians leave their job within three years. Care quality suffers when clinicians are working with outdated, incomplete data, and this exacerbates the virtuous cycle of high consumer volume and not enough clinicians to care for them. We want to help clinicians make more data-driven decisions and improve the care they provide while automating their administrative processes for them.”

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Roy Wiesner, Managing Director at aMoon Fund, said “Eleos Health is powering the future of evidence-based behavioral health at a time where we see a dramatic increase in the demand for behavioral care services. Therapy sessions have remained a black box while other therapeutic areas have undergone a data-driven revolution. Eleos seeks to change that and is already deploying at scale. The founders and leadership team are mission-driven, have built a sophisticated solution, and are delivering on the promise of helping reduce caregiver burnout alongside providing clinical insights, thereby improving access and quality of care.”
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