Eleos Health Inc. said today it has closed on a $60 million Series C round of funding, and will use the money to continue its mission of trying to transform the way behavioral healthcare is delivered by empowering clinicians with artificial intelligence assistants.

Today’s round was led by Greenfield Partners and saw participation from existing backers such as F-Prime Capital, Eight Roads, Menlo Ventures and ION, as well as new ones such as the Michael & Susan Dell Foundation, Union Tech Ventures and Centerstone. It brings Eleos’ total amount raised to date to more than $120 million.

Eleos claims it’s the most widely deployed behavioral health software platform in the industry, offering AI-powered agents that strive to liberate healthcare providers from the burden of administrative work. By easing the load on healthcare practitioners, they’ll have more time to focus on their patients, the company believes.

Its software is uniquely able to follow behavioral health conversations between clinicians and their patients and transform what’s said into detailed clinical notes, cutting documentation times by up to 70% on average. This means healthcare providers can spend less time on admin work and dedicate more of it towards more meaningful work with their patients.

However, the benefits go much further than that. Its AI agents can also analyze the notes they take to provide detailed clinical insights on each patient, including recommendations based on one of the industry’s largest datasets of real-world treatment sessions.

Along with today’s funding announcement, the company is also expanding its platform with a powerful new clinical documentation improvement product called Eleos Compliance, which was developed with guidance from legal and regulatory experts from the National Council for Mental Wellbeing. With this, behavioral health providers will be able to instantly review every submitted note and flag any documentation errors that could later trigger costly fines or payment clawbacks.

Greenfield Partners Managing Partner Shay Grinfield said Eleos’ software can alleviate an overwhelming administrative burden on healthcare providers. “Its innovative use of AI is reshaping the way behavioral healthcare is provided,” he added.

Eleos cites a recent randomized controlled trial, which found that the combination of its AI-powered documentation tools and its new compliance offering were able to increase progress note submission times by more than 80%. Simultaneously, they also doubled client engagement and improved care outcomes by a factor of three to four times, compared to standard treatment.

That likely explains why Eleos was able to triple its revenue in the first three years since launching its business, before doubling it in 2024, though it didn’t reveal absolute numbers. It now serves more than 120 customers across 30 U.S. states, making it the most widely deployed platform in the behavioral healthcare industry, it says.

Eleos co-founder and Chief Executive Alon Joffe said his company’s tools are all about empowering clinicians by expanding their capacity to do more with their patients.

“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,” he said. “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.”

Eleos said the money from today’s round will be used to add more senior leaders and data and engineering staff to its teams, while pushing into underserved segments of behavioral healthcare, such as substance use disorder treatment centers.

Images: Eleos Health