Samsung investment arm helps fund Eleos Health's $40M round
Eleos Health, a behavioral health startup, raised $40 million in a Series B funding round.
The company has developed software that converts behavioral health conversations into documented notes within electronic health record systems. Eleos uses speech recognition technology to convert the conversations into text and then uses natural language processing tools to translate the text into concise progress notes focused on essential details.
Menlo Ventures led the round and was joined by SamsungNext, an investment arm of Samsung Electronics. Other investors included F-Prime Capital, Eight Roads, Arkin Digital Health and ION.
The round will help fund Eleos' product development. The company is developing new AI software for group therapy sessions and case management tools. Eleos said the round will also help it hire 50 more people by the end of 2024.
The round brings the company’s total funding to $68 million. In the past two months, Samsung has invested in metabolic health and weight loss company Signos and Medicare Advantage-focused company Bold.
Cardiovascular tech company secures $80M Series C
Elucid, an artificial intelligence-enabled imaging analysis company for cardiovascular disease, raised $80 million in a Series C funding round.
The company has developed AI-enabled software that measures plaque in patients’ arteries, which can help physicians better understand a patient's cardiovascular disease.
Elucid said the funds would help expand its commercialization efforts. Elevage Medical Technologies led the round, which brings the company’s total funding to $121 million since inception.
The company is the latest within cardiovascular imaging space to raise a lofty funding round. Last year, Cleerly secured $223 million from high profile investors including T. Rowe Price and Fidelity.
Forum launches with $5.3M funding round
Forum, a virtual marketplace platform for peer support groups, launched from stealth with $5.3 million in funding.
The company facilitates live, video-based group meetings covering topics from grief and loneliness to substance use disorders. Forum was founded by Dr. Rajiv Kumar, who was previously the founder and CEO of ShapeUp, a venture-backed employer-focused digital health company that sold to Sir Richard Branson's Virgin Group.
NextView Ventures led the round. Other investors were MBX Capital, Cue Ball Capital, Sahil Bloom of SRB Ventures, Romeen Sheth, Shaan Puri and City Light Capital.
Forum joins an established slate of digital mental health companies. While other sectors have seen telehealth usage dip, demand for virtual mental health has remained strong.
Clinical trial-focused company nabs $15M
PhaseV, a company that applies machine learning to clinical trials, secured $15 million in a funding round.
The company uses machine learning to help pharmaceutical company's drug development teams analyze and design clinical studies. Its software is designed to assist with study design along with analysis.
The round was led by venture capital firms Viola Ventures and Exor Ventures.