Element5 raises $30 million to automate post-acute back-office work and more digital health funding

Element5, which offers software for post-acute care facilities to help automate administrative tasks, announced Tuesday that it had raised $30 million in a Series B funding round led by Insight Partners.

The company said the latest round brings its total raise to $48.5 million. Their The $15 million Series A was announced less than a year ago in August. Element5 said the funds will go towards increasing its reach in the post-acute care space.

“We are overwhelmed with the trust and support provided by Insight Partners, who share our common vision, which is to eliminate the need for repetitive, manual labor for post-acute care,” said co-founder and CEO Joe Randesi in a statement.

“The post-acute care industry is demanding 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 journey is focused on enabling more healthcare organizations to adopt and put to work the power of automation to reduce administrative costs and improve patient outcomes.”

Israel-based Imagene AI raised a total of $21.5 million, made up of a $18.5 million Series A round and a $3 million seed.

Series A was led by individual investors, Oracle co-founder Larry Ellison, cancer researcher Dr. David Agus and Eyal Gura, co-founder of Zebra Medical Vision, while initial funding was provided by Blumberg Capital. The startup uses artificial intelligence to analyze digitized biopsy images, with the aim of finding improved treatments for cancer patients and discovering new targets for new drugs.

“Although cancer is a complex disease that we may never fully understand, AI brings us closer to considering all the relevant parameters that affect it, allowing progress towards theragnostics, a personal treatment strategy that combines therapy with diagnosis. “Agus said in a statement. “Imagene’s technology can unlock accurate and crucial information in real time, changing the way cancer is diagnosed and treated.”

Capable Health, which offers an API for building healthcare apps, raised $6 million in a seed funding round led by M13, with participation from AlleyCorp and Able Partners.

The startup said it planned to use the funds to expand its team and fuel the company’s growth.

“If you’re building an app for mental health or prenatal care, you shouldn’t be forced to choose between spending tons of resources building your own backend, storing your data in siled legacy IT systems, or bundling solutions that don’t talk to each other.” founder Peter MacRobert said in a statement. “Our comprehensive platform enables any doctor to open a digital clinic in days, not years.”

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