Eleos, a US-based provider of AI technology for behavioural health, has secured $60m in a Series C funding round led by Israel-based investment firm Greenfield Partners.
Existing investors F-Prime Capital, Eight Roads, Menlo Ventures and ION, and new ones, including the Michael & Susan Dell Foundation, Union Tech Ventures and Centerstone also participated in the financing round.
The current Series C financing round follows the company’s recently closed Series B round and brings its total funding to more than $120m.
Eleos intends to use the funding to expand its offerings and team, and target underserved areas in behavioural health, such as substance use disorder (SUD) treatment centres.
Eleos co-founder and CEO Alon Joffe said: “From day one, Eleos has been committed to empowering clinicians, not replacing them, and expanding their capacity.
“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.”
The Series C financing round coincides with Eleos’ launch of a new clinical documentation improvement (CDI) product, dubbed Eleos Compliance.
Eleos Compliance was developed with guidance from legal and regulatory experts retained by the National Council for Mental Wellbeing.
It provides behavioural health organisations with a near-instant review of every submitted progress note.
Using agentic AI, Eleos Compliance flags potential documentation errors, simplifying the appeals process and supporting ongoing accreditation efforts.
Eleos leverages a large dataset of real-world treatment sessions to power unique behavioural health AI technology.
It is the first behavioural healthcare company to leverage multimodal large language models (MM-LLMs) to process multiple data input types simultaneously.
Greenfield Partners managing partner Shay Grinfeld said: “We’re proud to back the phenomenal team at Eleos as they revolutionize the behavioural health space, a market of immense importance and scale which is facing severe challenges.
“Their transformative product alleviates the overwhelming administrative burden faced by providers, empowering them to focus on delivering exceptional care.
Eleos’ innovative use of AI is reshaping the way behavioural healthcare is provided, and we are excited to be part of their journey.”
