# Element5

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/element5

- Industry: Healthcare IT
- Headquarters: San Jose, US
- Website: www.e5.ai
- Total disclosed funding: $45M
- Latest round: Series B (May 3, 2022)
- Investors on record: 2

## About

Element5, Inc. is a technology company that provides an Intelligent Post-acute Workflow Automation Platform, focusing on automating essential processes within the healthcare sector to enhance operational efficiencies and reduce administrative burdens.Founded in 2019 in San Jose, US, Element5, Inc. specializes in automating administrative tasks in healthcare, particularly around eligibility verification and revenue cycle management. The founders include Bhavani Raman, Eric Gordon, and Joe Randesi, with Joe Randesi serving as the CEO. The company has successfully completed 3 deals, with the most recent funding round being a Series B of USD 30.00 mn led by Insight Partners on May 3, 2022. To date, Element5 has raised a total of USD 30.00 mn, achieving a current company valuation of USD 168.01 mn.Element5 specializes in delivering an Intelligent Post-acute Workflow Automation Platform, primarily focused on automating eligibility verification, authorization processes, and revenue cycle management (RCM). Their flagship product, Neos, leverages agentic automation technology to streamline administrative tasks across a connected network. This solution aims to alleviate the administrative burdens often faced in healthcare settings, enabling organizations to enhance operational efficiencies and reallocate staff resources towards more complex tasks. Element5's client base includes healthcare providers such as home health agencies and infusion services, with notable references from industry leaders like GHG and VNA Health Group who have successfully implemented their solutions. The company operates primarily in North America, catering to various healthcare facilities dedicated to post-acute care.Element5 generates revenue through a fully managed automation platform that operates on a subscription-based model tailored for B2B partnerships with healthcare organizations. The transactions typically involve clients subscribing to Element5’s services, which include automated eligibility verification and denial management, among other features. These services are designed to optimize cash flow and reduce administrative overhead for clients, providing a clear value proposition that facilitates retention and long-term partnerships. Pricing details for specific services or packages are not publicly disclosed, but the company’s offerings are structured to support the seamless integration of automation into existing operational workflows, ensuring that clients experience immediate enhancements in efficiency and productivity.Following the Series B funding round in May 2022, in which Element5 raised USD 30.00 mn, the company plans to utilize this capital to accelerate the development of automation solutions across various service lines. Future growth strategies include launching new products designed to expand their automation capabilities and exploring opportunities in additional geographic markets beyond North America, although specific regions have not yet been disclosed. These initiatives are aimed at improving Element5’s service offerings and expanding its client base in the healthcare sector.

## Funding rounds

- Series B, May 3, 2022, $30M — Insight Partners
- Series A, Aug 17, 2021, $15M — Insight Partners, Maxwell Asset Management

## Investors

- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series A, Series B
- Maxwell Asset Management — Series A