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- Eleos Health
Eleos Health Funding, Investors & Competitors
Eleos Health has raised $128M across 5 funding rounds, most recently a $60M Series C in January 2025.
Last Eleos Health funding round
$60M
Series C · Jan 2025
Cumulative funding Eleos Health raised
$128M
across 5 funding rounds
Key investors in Eleos Health
lool ventures
F-Prime
Eight Roads Ventures
aMoon Fund
Menlo Ventures
Arkin Digital Health
ION
Gaingels
About Eleos Health
Eleos Health is a Boston-headquartered developer of AI-powered behavioral health documentation tools. Its Speech-to-Insights platform transcribes clinician-patient sessions and extracts billable codes, treatment plans, and risk insights compliant with HIPAA. Serving over 100 mental health organizations, including partnerships with Talkspace, Eleos reduces documentation time by 70 percent and improves reimbursement rates for therapists nationwide.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Eleos Health Funding History
Eleos Health has raised a total of $128M across 5 funding rounds.
Eleos Health's first fundraising round was a $2M pre-seed round in February 2020. The most recent completed round was a $60M Series C in January 2025.
Eleos Health funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2025 | Series C | Greenfield Partners (lead); Menlo Ventures; F-Prime; Michael & Susan Dell Foundation; lool ventures; Eight Roads Ventures; Union Tech Ventures; ION; Centerstone | $60M | Eleos Health is an AI platform for behavioral health that automates clinical documentation, compliance checks, and patient engagement to reduce administrative burdens on providers. Founded in 2020 with operations in Boston and Tel Aviv, it leverages the largest dataset of real-world treatment sessions and a multimodal large language model, positioning it as the most-deployed AI solution in the sector with over 120 customer organizations across more than 30 U.S. states. On January 22, 2025, Eleos raised $60 million in a preemptive Series C round led by Greenfield Partners, bringing total funding to over $120 million. Existing investors F-Prime Capital, Eight Roads Ventures (also listed as Eight Roads), Menlo Ventures, ION, and Lool Ventures participated, alongside new investors Michael & Susan Dell Foundation, Union Tech Ventures, and Centerstone. Sources note the company's value at least doubled from the prior round. Eleos reported tripling annual revenue in each of its first three years and doubling revenue in 2024. The funding will accelerate product expansion, including a new Compliance product, hiring of senior leaders, data, and engineering talent, commercial team growth, and market penetration into underserved areas like substance use disorder (SUD) treatment centers within the $11 billion post-acute behavioral health market. The round follows a $40 million Series B in September 2023 and underscores Eleos' rapid growth amid investor caution in health tech. CEO Alon Joffe emphasized AI's role in freeing clinicians for care delivery and capturing revenue, with Greenfield's Shay Grinfeld highlighting the platform's transformative impact on a challenging market. |
| Nov 2023 | Series B | Menlo Ventures (lead); Samsung NEXT; aMoon Fund; F-Prime; lool ventures; Eight Roads Ventures; Arkin Digital Health; ION | $40M | Eleos Health, an AI platform for behavioral health, raised $40 million in a Series B funding round announced on November 8, 2023 (with some sources noting September 27), led by Menlo Ventures. Existing investors aMoon Fund, lool ventures participated alongside new and existing backers F-Prime Capital, Eight Roads Ventures, Arkin Digital Health, Samsung NEXT, and ION, bringing total funding to $68 million. The company, founded in 2020 with offices in Boston and Tel Aviv, employs around 95 people and plans to hire over 50 more by end of 2024 to support product development, strategic partnerships, and expansion into electronic health records and industry associations. Eleos Health specializes in CareOps Automation, using AI to process therapy session audio into documentation, compliance tools, and care quality metrics tailored for behavioral health providers facing clinician shortages and administrative burdens. The platform leverages large language models specific to behavioral health to improve patient outcomes, with the company reporting 3X revenue growth each of the last three years while launching solutions for group therapy, compliance automation, and field-based care. This Series B follows prior rounds including a $20 million Series A and $6 million seed. A subsequent $60 million Series C in 2024, led by Greenfield Partners with participation from Menlo Ventures and others, brought total funding over $120 million; the CEO noted the company's value at least doubled in that round. |
| Apr 2022 | Series A | Eight Roads Ventures (lead); F-Prime (lead); aMoon Fund; Arkin Holdings; lool ventures | $20M | Eleos Health is a behavioral health AI platform providing CareOps Automation that operates in the background of clinician-patient conversations to streamline administrative processes, particularly clinical documentation and compliance. The company's voice AI technology securely captures and interprets in-session themes, generating post-session clinical progress notes and insurance coding while reducing clinician documentation time by an average of 40 percent. In April 2022, Eleos Health announced a $20 million Series A funding round co-led by F-Prime Capital and Eight Roads Ventures, with participation from existing investors aMoon Fund, lool ventures, and Arkin Holdings. This brought the company's total funding raised to $28 million at that time. The round was designed to enhance product offerings and enter new markets as the company addressed the U.S. clinician shortage in behavioral health. At the time of the Series A announcement, Eleos was in production use with more than 20 care providers and health plans, including Gaudenzia Home, The Brookline Center for Mental Health, and Coleman Health Services. The platform was being used by thousands of clinicians across these organizations. The company had captured more than 6.5 million minutes of treatment and was projecting 30 million minutes captured by the end of 2022, demonstrating significant traction and market adoption. The company would go on to raise a $40 million Series B in November 2023 led by Menlo Ventures, and subsequently a $60 million Series C in early 2025 led by Greenfield Partners, ultimately accumulating over $120 million in total funding. |
| Sep 2021 | Seed | aMoon Fund (lead); Matias Ventures; lool ventures; Gaingels; Arkin Digital Health; Gandyr Group | $6M | Eleos Health raised $6 million in a seed funding round on September 13, 2021, led by aMoon Fund with participation from lool ventures, Gandyr Group, Arkin Holdings, Gaingels, and individual investors from Google, MIT Media Lab, and Pegasystems. The funding aimed to scale the company's voice-based AI technology for behavioral healthcare, accelerating clinicians' decision-making and launching automated health tech solutions. Dr. David Shulkin, former US Secretary of Veterans Affairs, joined the board. Eleos Health develops AI-powered tools that analyze voice data from therapy sessions to provide insights for mental health professionals. The technology runs in the background during sessions, curating treatment data to support evidence-based behavioral health. At the time, Eleos had deployed its platform with over a dozen provider organizations, including Solvista Health, Achieve, Yeshiva University, and ReachLink, processing more than 1,200,000 minutes of treatment encompassing 14,000,000 in-session moments. |
| Feb 2020 | Pre-seed | lool ventures (lead); Maccabee Ventures | $2M | - |
Who has invested in Eleos Health?
17 investors have backed Eleos Health across its funding rounds, including lool ventures, F-Prime, Eight Roads Ventures, aMoon Fund, Menlo Ventures and Arkin Digital Health.
Lead investors include Greenfield Partners, Menlo Ventures, Eight Roads Ventures, F-Prime, aMoon Fund and 1 other investor.
Eleos Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Feb 2020 | ||
| 3 | Lead | Sep 2021 | ||
| 3 | Lead | Apr 2022 | ||
| 3 | Lead | Apr 2022 | ||
| 2 | Lead | Nov 2023 | ||
| 2 | Participant | Sep 2021 | ||
| 2 | Participant | Nov 2023 | ||
| 1 | Participant | Feb 2020 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Lead | Jan 2025 | ||
This data is available for Pro users. Sign up to see all 17 Eleos Health investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialEleos Health Competitors
Eleos Health competitors include listed companies like Tempus AI and SAP, and private ones like Commure, Abridge, Sword Health and Doctolib.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $200M | - | $7B | 35.0x | ||
| Private | $117M | - | $5.3B | 45.3x | ||
| Private | $240M | - | $4B | 16.7x | ||
| Private | $400M | - | $6.4B | 16.0x | ||
| Publicly listed | $1.3B | ($131M) | $15B | 10.1x | ||
| Publicly listed | $42B | $13B | $248B | 5.4x |
Eleos Health Public Comps
Eleos Health is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Moody's, Nebius Group and Workday.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $24B | $9.3B | 4.3x | 3.9x | 10.9x | 8.2x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $7.7B | $3.8B | 11.2x | 10.6x | 22.5x | 20.1x | |||
This data is available for Pro users. Sign up to see all Eleos Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Eleos Health
| When was Eleos Health founded? | Eleos Health was founded in 2019. |
| Where is Eleos Health headquartered? | Eleos Health is headquartered in Boston, MA, United States. |
| Is Eleos Health publicly listed? | No, Eleos Health is a private, VC-backed company. |
| How much funding has Eleos Health raised? | Eleos Health has raised $128M across 5 funding rounds. |
| What was Eleos Health's last funding round? | Eleos Health's last funding round was a $60M Series C in January 2025, led by Greenfield Partners. |
| Who are Eleos Health's investors? | Eleos Health's investors include lool ventures, aMoon Fund, F-Prime, Eight Roads Ventures, Menlo Ventures, Arkin Digital Health, ION, Maccabee Ventures, Samsung NEXT, Matias Ventures and 7 others. |
| Which companies are comparable to Eleos Health? | Companies comparable to Eleos Health include Commure, Abridge, Sword Health, Doctolib, Tempus AI and SAP. |
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