Element5 Post-Acute Care Workflow Automation Solution Closes $ 30 Million Series B Funding Round

Element5 Post-Acute Care Workflow Automation Solution Closes $ 30 Million Series B Funding Round

Second round of funding led by Insight Partners in one year to lead the outage of $ 400 billion post-acute care market, accelerate market penetration of workflow automation technology in home health care facilities, hospices, specialist nurses and the elderly

SAN JOSECalif. , May 3, 2022 / PRNewswire / – Element5, the world’s first Automation-as-a-Service solution built specifically for post-acute care, announced today that it has increased 30 million dollars in a Series B funding round led by New YorkInsight Partners, a globally based venture capital and private equity firm. The new loan represents the company’s second investment by Insight, which also led Element5’s $ 15 million Serie A in August 2021. The latest strategic investment aims to accelerate the adoption and implementation of advanced automation solutions across various service lines within the 400 billion dollars post-acute care market.

Logo

“We are overwhelmed by the trust and support provided by Insight Partners, who share our common vision of eliminating the need for manual, repetitive post-acute care jobs,” he said. Joe Randesi, co-founder and CEO of Element5. “The post-acute care industry requires improvements in operational efficiency and a means to overcome chronic staffing shortages. Over the past two years, we have seen significant growth in the adoption of our automation technology and the next phase of Our growth path is focused on enabling more healthcare organizations to embrace and operate the power of automation to reduce administrative costs and improve patient outcomes. “

Founded in 2019, Element5 uses artificial intelligence (AI) -based robotic process automation (RPA) to provide pre-built workflow automation solutions for post-acute care organizations. Today’s ever-increasing regulatory demands continue to strain and burden teams, forcing them to spend hours doing administrative work manually. Element5 technology enables post-acute care organizations to automate their processes, eliminating highly repetitive, logic-driven administrative work. This allows teams to focus on higher value activities, improve operational efficiency and combat the ongoing post-acute care staff crisis.

“After seeing the revolutionary impact that Element5’s innovative solution has had on the post-acute care market in such a short period of time, reinvesting was a breeze for Insight,” he said. Jared Rosen, Principal, Insight Partners. “We are thrilled to have the opportunity to double Element5 and look forward to partnering with Joe and the team to take the company to the next level.”

“We believe it takes too many clicks to complete even some of the simplest tasks in post-acute care workflows,” he said. Eric Gordon, co-founder and Chief Revenue Officer, Element5. “Element5 is ushering in the era of automation and post-acute care providers are seeing tremendous value through our offerings. This round of funding is a testament to the enthusiastic demand from customers in this market.”

Over the past year, Element5 has gained a dominant position as a provider of post-acute care automation and has been named by CB insights as a Digital Health 150 company. seniors rely on Element5 to automate their daily hiring and hospitalization processes, revenue cycle management, medical records, notifications and authorizations among a wide range of other operational activities.

With the closing of the Series B funding round, Element5 raised $ 48.5 million in total capital to date. Element5 is based in San José, Californiawith APAC headquarters in Chennai, India.

About Element5
Element5 is making work easier for post-acute care organizations by offering the end-to-end Automation-as-a-Service workflow. Using artificial intelligence (AI) and robotic process automation (RPA), Element5 offers intelligent automation and analytics that help organizations improve operational efficiency, recognize revenue faster, and help their resources focus on better outcomes for patients.

By automating complex administrative tasks for post-acute care, Element5 frees healthcare professionals from repetitive and time-consuming processes, enabling teams to do more, do less.

Built by experts with decades of healthcare and post-acute experience, Element5 is based in San José, California with offices in Chennai, India. You can learn more about Element5 and RPA at www.e5.ai

Insight partner information
Insight Partners is a global software investor partnering with high-growth technology, software and Internet startups and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022the closure of the company’s recent fundraiser, Fund XII, takes Insight Partners’ regulatory assets under management $ 90 billion. Insight Partners has invested in more than 600 companies around the world and has seen over 55 portfolio companies obtain an IPO. Based in New YorkInsight has offices in London, tel AvivAnd high pole. Insight’s mission is to successfully find, finance, and work with visionary executives, providing them with practical and hands-on software skills to drive long-term success. Insight Partners meets great software leaders on their growth journey, from their first investment to IPO. For more information on Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

Combined company logos

Combined company logos

Cision

Cision

View original content to download multimedia content: https://www.prnewswire.com/news-releases/workflow-automation-solution-for-post-acute-care-element5-closes-30m-in-series-b-round -of -financing -301537789.html

SOURCE Item 5

Leave a Comment

Your email address will not be published.