Eleos Health, which has developed Voice AI-based technology that helps mental health therapists analyze and draw insights and conclusions from treatment, today announced a $ 20 million round of funding for the company. The round was led by F-Prime Capital and Eight Roads Ventures. In addition, the existing investors in the company also participated: lool ventures, aMoon by Marius Nacht Fund and Arkin Holdings by Mori Arkin. The round brings the total capital raised to $ 28 million. This is the first investment in Israel by the F-Prime Capital Fund, one of the leading health funds in the world.
Eleos Health was founded in 2020 by Alon Yoffe, Dror Zeida and Alon Rabinovich. The company has about 30 employees in the development center in Israel and another 20 employees in the United States. The company’s technology is based on understanding natural language. It makes it possible to analyze the treatment provided, derive insights and value suggestions for the therapist, streamline the work process, improve the quality of the treatment and free up valuable time, so that the therapist can devote more time to the patient.
Data collected by the company indicate that 30 million Americans are dealing with various mental states that are not being treated. At the same time, the existing supply of caregivers is finding it difficult to meet the rising demand. The result is that therapists face an unprecedented burden. 78% of caregivers in the US report that they are in a state of significant burnout due to the intensive work during two years of Corona virus.
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The solution makes it possible to reduce the time that caregivers currently spend documenting appointments with patients by an average of 40%. One of the salient features of the technology is the digitization of therapist notes automatically, thanks to natural language processing. The great value of the solution is the analysis of hundreds of different parameters, which sometimes the human therapist can not split the attention and give them maximum attention. The solution is currently used by thousands of caregivers, across more than 20 different organizations and treatment institutions across the U.S. Among the organizations and companies that use the app: Gaudenzia Home – one of the leading treatment and recovery centers for drug and alcohol addiction in the U.S., Coleman Health Services and Brookline Center for Mental Health. To date, the company has documented and analyzed more than 6.5 million minutes of treatment, and by the end of 2022 it expects to reach 30 million minutes of surgery analyzed.
Alon Yoffe, CEO: Eleos Health “The effectiveness of the practices they use, to examine the pace of progress of the treatment and its results, and provide them with a new and extremely important perspective on the treatment all while automating many administrative processes.”
Carl Byers, Partner at F-Prime Capital: “Since its inception, Eleos Health has established itself as a company at the forefront of digital transformation in the global mental health industry. The technology developed by the company is customized for therapists and patients. They are being treated and the administrative burden placed on them is being reduced. ”
Dr. Dale Klatzker, CEO of Gaudenzia Home: “The solution enables our therapists to be more attentive to what patients are saying. The solution allows attention to body language, mimicry, emotions, all in a unique technique that helps to significantly improve treatment. Eleos provides our therapists with new and extraordinary insights into their treatment techniques, their effectiveness, and how patients respond to them. In the same breath, it significantly reduces their preoccupation with the administration. ”
Davor Hebel, Managing Partner at Eight Roads Ventures: “Eleos’ unique approach allows therapists to be much more attentive to text, body language. It emphasizes the small and critical subtleties during treatment. , Are the ones that enable it to be one of the groundbreaking solutions in the world today in the field of psychiatric treatments.
The company’s technology based on process automation, CareOps Automation is the future of the industry. The product allows caregivers and organizations and various health institutions, a significant solution while synchronizing all the different components of treatment. Thanks to the product the therapists can easily access a lot of information produced during the therapy sessions. All information is obtained, along with medical history and information about the environmental conditions in which the patients live. In this way, they can significantly improve the results of the treatment and reduce the burnout from which patients suffer, while streamlining and improving their work processes. ”
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