Behavioral health technology company Eleos raised $60 million, bringing its total funding to over $120 million.
Greenfield Partners led the Series C round with participation from F-Prime Capital, Eight Roads, Menlo Ventures, ION, Michael & Susan Dell Foundation, Union Tech Ventures and Centerstone. The company plans to use the cash infusion to expand its product offerings, grow its executive, data and engineering teams and expand into new behavioral health markets – namely, substance use disorder (SUD) treatment.
Alongside the funding news, Eleos announced the launch of a new clinical documentation improvement product, Eleos Compliance.
“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,” Alon Joffe, Co-Founder and CEO of Eleos, said in a statement. “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.”
Boston, Massachusetts-based Eleos is an AI platform designed for behavioral health providers to streamline administrative processes, including documentation and compliance. Eleos has over 120 customer organizations in more than 30 states across the U.S. and doubled its revenue in 2024, according to the company.
The $60 million raise comes just over a year after Eleos raised $40 million in its Series B round led by Menlo Ventures. In 2022, it closed its Series A round with $20 million.
Eleos’s documentation tool runs in the background of clinicians’ sessions and automatically generates a note for the session without storing the original conversation. Alternatively, clinicians can input key points from sessions into Eleos and the platform will generate a full progress note.
Several other behavioral health companies have hauled in significant investor dollars thus far in 2025. The bulk of venture deals have focused on tech-enabled or focused behavioral health companies.
So far in January, digital health company DarioHealth raised $25.6 million, mental health chatbot Slingshot AI raised $40 million and outpatient mental health provider Mindful Health raised $12 million.
