Eleos Raises $60M Series C to Transform Behavioral Health with AI Agents
Led by Greenfield Partners, This Investment Will Accelerate New Product Offerings, Hiring, and Expansion into More Behavioral Health Settings and Markets
Eleos, the leader in AI for behavioral health, has announced a $60M Series C funding round led by Greenfield Partners, with participation from existing investors F-Prime Capital, Eight Roads, Menlo Ventures, and ION, as well as new investors, including the Michael & Susan Dell Foundation, Union Tech Ventures, and Centerstone. This round brings Eleos’ total funding to over $120M.
Rapid Growth and Expansion
The investment comes on the heels of Eleos’ recent Series B round and reflects the company’s rapid ascent as the most widely deployed enterprise-grade behavioral health AI solution on the market. With this new funding, Eleos will expand its product offerings, grow its commercial team, and push into underserved segments of behavioral healthcare, particularly substance use disorder (SUD) treatment centers.
New Clinical Documentation Improvement (CDI) Product
The Series C announcement coincides with the launch of Eleos’ new CDI product, Eleos Compliance. Developed with guidance from legal and regulatory experts retained by the National Council for Mental Wellbeing, Eleos Compliance gives behavioral health organizations near-instant review of every submitted progress note, leveraging agentic AI to flag potential documentation errors before they can trigger costly fines or payment clawbacks.
Eleos’ Mission
"We’ve been committed to empowering clinicians – not replacing them – and expanding their capacity," said Alon Joffe, Co-Founder and CEO of Eleos. "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. 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."
Company Highlights
- Eleos tripled its annual revenue over each of its first three years in business, doubling its revenue in 2024.
- The company has more than 120 customer organizations in over 30 states across the U.S., making it the most-deployed AI platform in behavioral health today.
- Eleos plans to add more senior leaders and more data and engineering talent on the back of this latest funding round.
What’s Next?
Eleos will host a webinar on February 19, 2025, to present a detailed overview of Eleos Compliance and other product enhancements. Learn more and register here: https://techfundingnews.com/press-release-news/eleos-raises-60m-series-c-to-transform-behavioral-health-with-ai-agents/.
About Eleos
At Eleos, we believe the path to better behavioral healthcare is paved with provider-focused technology. Our purpose-built AI platform streamlines documentation, simplifies compliance, and surfaces deep care insights to drive better client outcomes. Created using the industry’s largest database of real-world behavioral health sessions and fine-tuned by our in-house clinical experts, our AI tools are scientifically proven to reduce documentation time by more than 70%, boost client engagement by 2x, and improve symptom reduction by 3-4x. With Eleos, behavioral health providers are free to focus less on administrative tasks and more on what got them into this field in the first place: caring for their clients.
About Greenfield Partners
Greenfield invests in disruptive technology and tech-enabled businesses globally at the Early Growth stage and then applies its Greenfield Growth Momentum (G2M) playbooks to implement best-in-class go-to-market practices that accelerate the path to global scale. Having spun out of TPG Growth in 2020, today Greenfield independently manages over $1 billion across its portfolio.
FAQs
- How will Eleos use the funding?
Eleos will use the funding to accelerate new product offerings, hiring, and expansion into more behavioral health settings and markets. - What is the significance of the new CDI product?
The new CDI product, Eleos Compliance, is designed to simplify the appeals process and support ongoing accreditation efforts by providing near-instant review of every submitted progress note. - What is the current state of the behavioral healthcare market?
The behavioral healthcare market is growing rapidly, with a growing need for efficient and effective solutions to address the increasing demand for mental health services.
Conclusion
Eleos’ $60M Series C funding round underscores the company’s commitment to transforming the behavioral health industry through the power of AI. With this investment, Eleos is poised to accelerate its growth, expand its product offerings, and increase its presence in the market, ultimately driving better outcomes for patients and providers alike.
