Eleos Health Raises $20M to Unlock In-Session Behavioral Health Voice Data
- Groundbreaking ambient voice-to-insights technology captures and digitizes behavioral health sessions, liberating care providers to focus on therapeutic alliance and personalized care
- Overlaying any mainstream EHR, Eleos autonomously identifies in-session themes and generates post-session clinical progress notes, lending clinicians new insights into potential care gaps or the need for care coordination
- In use by 20+ national care providers and health plans, Eleos looks to unlock up to 30% more provider capacity as the U.S. grapples with behavioral health clinician shortages
BOSTON and TEL AVIV, Israel , April 5, 2022 /PRNewswire/ -- Eleos Health, the leader in CareOps Automation for behavioral 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, bringing Eleos' total raise to $28 million.
30 million Americans are living with untreated mental health conditions. Even the most optimistic math shows that the current supply of 600,000 active licensed U.S. therapists falls far short of meeting patient demand. As the U.S. works to expand its behavioral health workforce, existing mental health care providers are shouldering a crushing workload, with self-reported burnout rates among psychiatrists at 78%.
Launched in early 2020, Eleos Health is a breakthrough clinical application for voice AI, operating ambiently in the background of behavioral health clinician-patient conversations (full patient consent and permission are pre-conditions of clinical use).
Overlaying mainstream electronic health records (EHRs) and operable in both virtual and in-person care settings, Eleos securely and autonomously captures and interprets in-session themes and moments, generating post-session clinical progress notes and insurance coding. On average, Eleos cuts clinician documentation time by 40%. Eleos' superpower is its ability to give both individual clinicians and clinical leadership original insights. 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: CBT might include a mood check, agenda setting, reflective listening, homework and action planning
- Clinician listen time vs. talk time, or when and how often a clinician interrupts a patient
- Practice-wide percentage of clinicians delivering evidence-based practice
- Patient improvement rate
"Behavioral health practitioners deserve advanced technology representative of and equal to the role they play in caregiving and healing," said Alon Joffe, CEO and Co-Founder, Eleos Health. "In behavioral care, the conversation is the treatment. For the first time, Eleos is making it possible to digitize and manage the unstructured nature of behavioral health conversations, lending psychotherapists a new line of sight into patient needs, progress and outcomes."
Eleos is currently used by thousands of clinicians across more than 20 national care providers and health plans, including Gaudenzia Home, The Brookline Center for Mental Health and Coleman Health Services. 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.
"When our clinicians are in-session with patients, they can be tuned into relational energy, body language or empathetic mirroring in addition to patients' vocal feedback and the overall dialogue," said Dr. Dale Klatzker, CEO, Gaudenzia Home. "Eleos has given our team a new level of insight into how we are delivering care and how patients are responding. Smart, augmentative and non-intrusive technology like Eleos improves the ability of our team to focus on clinician-patient trust and overall treatment and outcomes."
"Eleos Health offers a unique approach, by combining the power of voice and Natural Language Understanding, together with enterprise-grade security and compliance standards in the clinical workflow. Eleos allows providers and payers to unlock the synchronization of behavioral, medical and SDoH data, which leads to improved outcomes and reduced clinician burnout," said Carl Byers, Partner at F-Prime Capital. "We look forward to working with this talented team as they take the next steps to scale the business."
"Eleos delivers a unique approach that harnesses the power of voice and Natural Language Understanding coupled with enterprise-grade security and compliance standards directly right into the clinical workflow," said Davor Hebel, Managing Partner, Eight Roads Ventures. "CareOps Automation is the future of behavioral health. It allows providers and payers to unlock the holy grail in behavioral health - the synchronization of behavioral, medical and SDoH data to improve outcomes and reduce clinician burnout all without changing the clinical workflow."
About Eleos Health
Eleos is pioneering CareOps Automation. By consolidating the entire behavioral care workflow — everything from progress notes all the way to session intelligence— clinicians are freed from time-consuming operational burdens. Eleos takes care of CareOps, honing in on automating operational necessities, including all documentation, compliance administration as well as providing deep clinical insights through session intelligence. Eleos makes evidence-based behavioral care a reality so clinicians, providers, and networks can measurably and comparatively track treatment and progress. Now clinicians put all their focus into care itself. So the care they aim to provide becomes the care they actually deliver. Eleos. More Care. Less Ops.
About F-Prime Capital
F-Prime Capital is a global venture capital firm investing in healthcare and technology. For the past 50 years, our venture capital group has had the privilege of backing great entrepreneurs building groundbreaking companies. With over $3 billion dollars under management and a global portfolio of more than 200 companies, we champion those dedicated to creating positive change in the world. Our healthcare fund has created or co-created 27 companies including Denali, Beam, Innovent, Orchard and Sana and has helped build many others including Blueprint Medicines, Iora Health, PatientPing, Devoted and Ultragenyx. F-Prime portfolio companies have seen more than 30 products and drugs approved by regulatory agencies worldwide. Our team of investors, engineers, doctors and scientists is committed to bringing the insight, domain expertise and relationships required to help our companies make a transformational impact.
For more information, please visit www.fprimecapital.com.
About Eight Roads
Eight Roads is a global venture capital firm managing over $6bn of assets across offices in the UK, China, India and Japan. It backs and partners with game-changing technology and healthcare companies and its 50-year history of investing includes partnerships with over 300 companies including Alibaba, AppsFlyer, Cazoo, Fireblocks, Funnel.io, Gloat, Hibob, Icertis, Made.com, Neo4j, Spendesk, Paidy, Ping Identity, Pony.ai, Wallapop and WuXi PharmaTech. For more information please visit eightroads.com.
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SOURCE Eleos Health
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