Eleos Health Raises $20M to Fuel Its AI-Powered Voice Analysis Platform for Behavioral Health

The startup Eleos Health announced Tuesday that it landed $20 million in Series A funding.

The company — which has offices in Boston and Tel Aviv, Israel — casts itself as an integrated “CareOps Automation” provider for behavioral health providers that uses voice AI to interpret the conversation of patients and providers to generate post-session notes, insurance coding and clinical insights.

So far, the company has raised $28 million, according to the news release.

Founded in 2020, Eleos Health claims that its tools can cut clinician documentation time by 40% on average.

“Behavioral health practitioners deserve advanced technology representative of and equal to the role they play in caregiving and healing,” Alon Joffe, Eleos Health CEO and co-founder, said in the release. “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.”

Joffe co-founded the company with COO Dror Zaide and Chief Technology and Security Officer Alon Rabinovich.

Eleos Health reportedly overlays with any mainstream electronic health record and autonomously identifies in-session themes, lending clinicians new insights into potential care gaps or the need for care coordination.

The company also promises therapists the chance to make evidence-based behavioral care a reality by tracking patient progress in real-time, the release states.

Eleos health is used by 20 national care providers and health plans. Specific clients include Norristown, Pennsylvania-based nonprofit addiction and mental health services provider Gaudenzia Home, Brookline, Massachusetts-based health and social services provider The Brookline Center for Mental Health and Kent and Ohio-based Coleman Health Services, the release states.

Eleos Health has also tested its services with King of Prussia, Pennsylvania-based behavioral health facility and hospital giant Universal Health Services (NYSE: UHS) in 2020. The goal was to measure the effectiveness of the new behavioral health software that uses AI and voice analysis to improve behavioral health treatments and outcomes.

UHS CEO Marc Miller told Behavioral Health Business in November 2020: “It’s things like that we’re very excited about. We’re continuing our pilots with Eleos, and we hope to have something to move forward on very soon.”

Investment firms F-Prime Capital and Eight Roads Ventures co-led the round. Existing investors aMoon Fund, Lool Ventures and Arkin Holdings also participated in the round.

“CareOps Automation is the future of behavioral health,” Davor Hebel, managing partner of Eight Roads Ventures, said in the release. “It allows providers and payers to unlock the holy grail in behavioral health — the synchronization of behavioral, medical and [social determinants of health] data to improve outcomes and reduce clinician burnout all without changing the clinical workflow.”

Axios’ Erin Brodwin reported earlier today that “Eleos has seen its valuation quadruple in the past nine months.”