Eleos raises $60M for behavioral health AI
Eleos, a software company focused on behavioral health, closed a $60 million Series C funding round.
Investment firm Greenfield Partners led the round. The Michael & Susan Dell Foundation, venture capital firm Union Tech Ventures and mental health provider Centerstone also participated with a series of existing investors.
Related: Top digital health funding: Solera Health gets $40M
The company has developed an artificial intelligence tool that can document clinical notes and flag possible reimbursement issues for community behavioral health centers. Eleos said in a release it would use the round to scale and expand into substance use disorder treatment centers.
The round brings the company’s total raised to $128 million.
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Spark Pediatrics gets $15M from UPMC, Memorial Hermann
Spark Pediatrics, a pediatric care startup, received $15 million in an unlabeled funding round.
UPMC Enterprises, the venture capital arm of the University of Pittsburgh Medical Center, Houston-based Memorial Hermann Health System, an unnamed health plan and financial investors participated in the unlabeled growth round.
Spark Pediatrics operates centers staffed by skilled nurses and support staff that provide care for children with medical complexities such as cerebral palsy, seizure disorders and gastrostomy tubes. Spark provides children with speech, physical and occupational therapy.
The company serves children on Medicaid in Texas and Florida in twelve clinics. It plans to open multiple clinics in Pennsylvania over the next two years through a partnership with UPMC, said Spark Pediatrics CEO Jeff Soffen. He said the round will help it evolve its current care model to include services delivered by its partners such as virtual care.
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