Eleos Health

The idea: the conversation is the treatment

Eleos Health was founded in 2020 by Alon Joffe, Dror Zaide and Alon Rabinovich, and they were later joined by clinical psychologist Dr. Shiri Sadeh-Sharvit. The company is headquartered in Boston and Tel Aviv. Its starting point is summed up in a sentence by Joffe: in mental health care, the conversation is the treatment. But after every session the therapist has to write a note, document it and code it for insurance reimbursement, and this burden takes time that could have gone to patients. The Eleos system runs in the background of the session, on condition that the patient has given full consent, and afterwards produces a draft clinical note.

The technology

According to the company, the system analyzes hundreds of parameters in each session and draws on a large database of real therapy conversations. In 2025 it described itself as the first company in the field to use multimodal language models, meaning models that process several types of input at the same time. In 2023 it reportedly analyzed about 3 million minutes of therapy sessions. The company cites a controlled trial in which the time to submit notes improved by more than 80%, patient engagement doubled and treatment outcomes improved 3 to 4 times compared with usual care. These are figures the company provided, and they were not checked here against the published study itself.

Three rounds, more than $120 million

In April 2022 the company raised a $20 million Series A, co-led by F-Prime Capital and Eight Roads Ventures. In November 2023 it raised a $40 million Series B led by Menlo Ventures, bringing total funding to $68 million. In January 2025 it raised a $60 million Series C led by Greenfield Partners, and total funding passed $120 million. According to Joffe, the company's valuation at least doubled in this round. At the time the company employed about 160 people.

Customers and market

Eleos sells to organizations that employ therapists, not to private therapists, mainly to nonprofit organizations in the United States that serve populations who cannot afford private treatment and rely on government reimbursement. According to Joffe, in the year before January 2025, 15,000 to 20,000 therapists and hundreds of thousands of patients used the product. That month the company launched a product that checks every note before it is submitted and warns of documentation errors that could lead to a fine or a demand to repay money, and announced plans to expand to addiction treatment centers. The company reported that its revenue tripled in each of its first three years and doubled in 2024.

2026: from a system that documents to a system that acts

On the company's website in 2026, Eleos is described as a system of action for community-based care, and the focus has moved from documentation to preventing payment denials. The system checks the note in real time, warns about gaps before the claim is sent, and runs agents that carry out workflows according to the organization's rules. It works with any browser-based medical records system through an extension. A system that listens to therapy sessions handles especially sensitive information, and the company lists a range of security and privacy certifications, including ISO 42001 for managing artificial intelligence systems. The question of how far an automatic summary of a therapy conversation can be relied on remains open across the whole field, and that is why the therapist is the one who approves the note.