Element5 recognized for its efforts to revolutionize the way post-acute care work is done with AI-powered workflow automation
SAN FRANCISCO, CA / ACCESSWIRE / December 8, 2021 / CB Insights today named Element5 to its third annual Digital Health 150, which showcases the 150 most promising private digital health companies in the world. This year's Digital Health 150 was unveiled live during CB Insights' annual Future of Health event.
The 2021 Digital Health 150 cohort has raised roughly $14.9B in aggregate funding across 522 deals since 2016, and includes startups at various investment stages of development, from early-stage to well-funded unicorns. Companies this year include startups working on data integration & analytics, hybrid virtual / in-person care, digital therapeutics, clinical intelligence, and more.
"This year's Digital Health 150 is one of our most expansive yet, spotlighting 16 categories including virtual care, clinical trials tech, and workflow automation, as well as adding new categories such as home health tech and computer-aided imaging," said Brian Lee, SVP of CB Insights' Intelligence Unit. "Last year's class has seen more than 20 exits, raised an additional $18.6B in aggregate funding, and announced over 250 partnerships since being recognized, and we're excited to see the future success of this year's winners."
"The post-acute care industry is burdened with operational bottlenecks and meeting the demands of regulatory compliance. A healthy dose of automation allows their teams to focus more on patient care and less on administrative work", said Joe Randesi, co-founder and CEO, Element5. "Element5 is proud to deliver automated workflows to home-health, hospice and skilled nursing facilities. Being recognized in CB Insights Digital Health 150 is a testament to our efforts in truly transforming the way organizations work and we're thrilled to be on this year's list.
Through an evidence-based approach, the CB Insights research team selected the Digital Health 150 from a pool of over 11,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights' proprietary algorithm that measures the overall health and growth potential of private companies.
The recognition comes on the tail-end of a monumental year for Element5, with the completion of its Series A round of funding at $15 million in August 2021. Element5 has embarked on its next phase of growth, rapidly expanding to help more post-acute care organizations improve operational efficiency and actively combat the staffing shortage using workflow automation solutions.
2021 Digital Health 150 Investment Highlights:
- Unicorns: 17 of the 150 companies (11%) are valued at or above $1B as of their latest funding rounds.
- Funding trends: In 2021 year-to-date (YTD), these 150 private companies have raised $9.2B in equity funding across 153 deals (as of 11/19/21)
- Mega-rounds: Since 2020, there have been 39 mega-round ($100M+) equity investments to this year's Digital Health 150, with 31 (79%) of them taking place in 2021 YTD
- Global representation: 23% of the 2021 Digital Health 150 are based outside the US. After the US, the UK is home to the most Digital Health 150 companies (9), followed by India (4). This year's winners are based in 18 countries, including China, Israel, Nigeria, Germany, Argentina, and New Zealand.
- Top VC investor: General Catalyst is the most active investor in this year's Digital Health 150 companies, having invested in 39 deals since 2016
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com
CB Insights Press Contact:
About Element5
Element5 is simplifying work for post-acute care organizations by offering end-to-end workflow Automation-as-a-Service. Using Artificial Intelligence (AI) and Robotic Process Automation (RPA), Element5 delivers intelligent automation and analytics that help organizations improve operational efficiency, recognize revenue faster and help their resources focus on better patient outcomes.
By automating complex administrative tasks for post-acute care, Element5 frees healthcare personnel from time-consuming and repetitive processes, empowering teams to do more, by doing less.
Built by experts with decades of experience in healthcare and post-acute care, Element5 is headquartered in San Jose, California with offices in Chennai, India. You can learn more about Element5 and RPA on www.e5.ai
Contact:
Abhilash Kumar
Head of Marketing
[email protected]
SOURCE: Element5