Eleos Health Raises $40M in Series B Funding

Eleos Health

Eleos Health, a Boston, MA- and Tel Aviv, Israel-based company which specializes in AI for behavioral health, raised $40M in Series B funding.

The round, which brought the total amount to $68M, was led by Menlo Ventures, with participation from F-Prime Capital, Eight Roads, Arkin Digital Health, SamsungNEXT and ION.

The company intends to use the funds to accelerate growth through additional investment in product development and strategic partnerships, which will speed the adoption of AI across behavioral health. In addition to accelerating product development plans — which include new and enhanced AI solutions for group therapy sessions, compliance automation, case management, concurrent documentation and value-based care support — this investment will accelerate Eleos Health’s hiring efforts, expand its reach to serve more behavioral health providers and segments, and bolster strategic partnership development to bring more EHRs and industry associations into the Eleos ecosystem. The company plans to hire more than 50 people by the end of 2024.

Led by CEO Alon Joffe, Eleos Health turns behavioral health conversations into documentation and intelligence that drives care. Leveraging proprietary, behavioral health-specific large language models (LLMs) created with treatment data and clinical expertise, the company’s system interprets, analyzes and documents behavioral health conversations, reducing the operational burden on providers while surfacing objective insights into evidence-based care and the therapeutic alliance. Leadership teams can scale supervision and training while gaining visibility into staff activity, caseloads and performance as well as population health.