Tech Company Financing Transactions
Eleos Health Funding Round
Eleos Health, based in Cambridge, secured $40 million from Menlo Ventures, Arkin Digital Health and Eight Roads.
Transaction Overview
Company Name
Announced On
11/9/2023
Transaction Type
Venture Equity
Amount
$40,000,000
Round
Series B
Investors
Menlo Ventures (Lead Investor)
F-Prime Capital (Carl Byers)
Proceeds Purpose
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.
Company Information
Company Status
Private & Independent
Industry
Artificial Intelligence
Mailing Address
Undisclosed
Cambridge, MA Undisclosed
United States
Cambridge, MA Undisclosed
United States
Phone
Undisclosed
Website
Email Address
Not Recorded
Overview
Eleos Health is a mental health startup focused on using voice analysis and NLP to improve treatment outcomes and workflow efficiency.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
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