Headquartered in San Jose, California with its APAC headquarters in Chennai, India, Element5 provides intelligent automation solutions for post-acute care. Using AI and RPA, Element5 simplifies the execution of complex processes that incur high costs and are often labor-intensive. Yesterday, the company announced the closing of its Series A round of funding led by global private equity and venture capital firm Insight Partners. The fundraising round also saw participation from industry leaders, Maxwell Investment Partners, LLC. With the closing of the Series A funding round, Element5 has raised a total capital of $18.5 million.
Element5 is going to use the financing to accelerate the growth of its world-class product for post-acute care while strengthening its market foothold through customer expansion and scaling of global operations.
“One of the biggest challenges in post-acute care is the insane amount of manual, repetitive tasks that teams deal with to run an operation. A myriad of factors contributes to this problem, including constant regulatory and compliance challenges. Element5 is changing the way work gets done across organizations by helping teams spend less time on mundane, repetitive tasks and more time caring for patients. We’re excited to close this round of funding as this investment will help Element5 propel a new era of post-acute care operations.”
Joe Randesi, Co-founder & CEO, Element5