Eleos Health, the leader in CareOps Automation for behavioural health, today announced that it has raised $20 million in Series A funding. The round was co-led by F-Prime Capital and Eight Roads Ventures, with participation from existing investors aMoon Fund, Lool ventures, and Arkin Holdings.
30 million Americans are living with untreated mental health conditions. Even at the most optimistic estimates, the current supply of 600,000 active licensed U.S. therapists falls eminently short of meeting patient demand. As the U.S. works to expand its behavioural health workforce, existing mental health care providers are shouldering a crushing workload, with self-reported burnout rates among psychiatrists at 78%. Eleos is looking to unlock up to 30% more provider capacity as the U.S. grapples with these behavioural health clinician shortages.
More care, less ops
Eleos is pioneering CareOps Automation. Their product is a breakthrough clinical application for ambient voice-to-insights technology using AI and Natural Language Understanding; it operates in the background of behavioural health clinician-patient conversations. By consolidating the entire behavioural care workflow — everything from progress notes to session intelligence— clinicians are freed from time-consuming operational burdens. They concentrate on automating operational necessities, including all documentation and compliance administration, therefore making evidence-based behavioural care a reality so clinicians, providers, and networks can measurably and comparatively track treatment and progress. Essentially, with Eleos, clinicians can focus more on the care itself. Moreover, Eleos provides deep clinical insights through session intelligence. They do so by overlaying any mainstream electronic health records, autonomously identifying in-session themes, and generating post-session clinical progress notes. This digitizes and manages the unstructured nature of behavioural health conversations, and thereby lends clinicians new insights into potential care gaps, needs for care coordination, progress, and outcomes.
Some of the most common insights Eleos produces are recurring in-session keywords spanning major conversational themes and moments, how a clinical intervention was used (including mood checks, agenda-setting, reflective listening, homework, and action planning), clinician listen time vs. talk time, when and how often a clinician interrupts a patient, and patient improvement rate. On average, Eleos cuts clinician documentation time by 40%. The augmentative and non-intrusive technology allows clinicians to focus on clinician-patient trust and overall treatment and outcomes.
“Eleos delivers a unique approach that harnesses the power of voice and Natural Language Understanding coupled with enterprise-grade security and compliance standards directly into the clinical workflow. CareOps Automation is the future of behavioural health. It allows providers and payers to unlock the holy grail in behavioural health – the synchronization of behavioural, medical and SDoH data to improve outcomes and reduce clinician burnout all without changing the clinical workflow.” – Davor Hebel, Managing Partner, Eight Roads Ventures.
Eleos has captured more than 6.5 million minutes of treatment to date and is projecting 30 million minutes captured by the end of 2022. The new capital will allow them to deepen their product development, and increase service and sales teams, business development and recruitment.
Eleos Health was founded by Alon Joffe (CEO), Alon Rabinovitch (CTO), and Dror Zaide (COO) in 2020. They have raised a total of $28 million so far.