Eleos Doubles in Value with New $60M Series C Round
Deal News | Jan 22, 2025 | eight roads ventures
Israeli startup Eleos Health has successfully raised $60 million in a Series C funding round led by Greenfield Partners, with continuing support from existing investors like F-Prime Capital and Eight Roads, as well as new participants such as the Michael & Susan Dell Foundation. Founded in 2020 by Alon Joffe and colleagues, Eleos Health employs proprietary AI technology to enhance behavioral healthcare by processing complex data inputs. The company's headquarters are situated in Boston and Tel Aviv, with a workforce of around 160 individuals. CEO Alon Joffe, also a co-founder, highlights the company's rapid growth, doubling its valuation in this latest funding round. Eleos plans to utilize the fresh capital to diversify its offerings, grow its commercial team, and target underserved areas in behavioral healthcare—especially substance use disorder treatment facilities. The company reports continued revenue doubling, attributing success to products that significantly enhance clinical operations and regulatory compliance. A particular success is the newly launched Eleos Compliance, which mitigates potential documentation error hazards, thus safeguarding against costly penalties.
Sectors
- Healthcare Technology
- Venture Capital
- Artificial Intelligence
Geography
- Israel – Eleos Health is an Israeli company and part of the Israeli high-tech ecosystem.
- United States – Eleos Health has headquarters in Boston and operates widely in the U.S. market.
Industry
- Healthcare Technology – Eleos Health operates in the sector by utilizing AI to improve behavioral health outcomes.
- Venture Capital – Numerous VC firms such as Eight Roads Ventures and others invested in the Series C round.
- Artificial Intelligence – Eleos makes use of AI technology, specifically multimodal large language models, for clinical insights in therapy sessions.
Financials
- $60 million – Amount raised by Eleos Health in the Series C funding round.
- $120 million – Total investments secured by Eleos Health to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Eleos Health | Target Company | Company | A startup focused on applying AI technology to improve behavioral health treatment. |
| Greenfield Partners | Lead Investor | Company | Led the $60 million Series C funding round for Eleos Health. |
| Eight Roads Ventures | Investor | Company | Participated as an existing investor in the Series C funding round. |
| Michael & Susan Dell Foundation | Investor | Company | New investor in the Series C funding round. |
| Alon Joffe | CEO and Co-Founder | Person | CEO and one of the founders of Eleos Health, previously served in IDF reserves. |