Robotic Process Automation (RPA) and AI company Element5 on Tuesday said it had raised $15 million in a Series A round led by global private equity and venture capital firm Insight Partners.
Founded in 2019, Element5 uses AI and RPA to deliver software-as-a-service (SaaS)-based automated workflows for home health, hospice, senior living, skilled nursing, and other allied healthcare verticals.
The fresh funding will help Element5 fuel growth and simplify the adoption of AI and RPA across the post-acute care market.
“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,” said Joe Randesi, co-founder and CEO, of Element5.
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Element5 is headquartered in San Jose, California, with its APAC headquarters in Chennai. It has so far raised a total capital of $18.5 million.
Element5 delivers end-to-end workflow automation that uses software robots, which log into everyday systems and perform daily administrative tasks like a human, helping teams save hours on repetitive clicks.
“Without a doubt, Element5 is changing the way that post-acute care is provided and experienced,” said Jared Rosen, Vice President at Insight Partners.
“The company’s impressive growth speaks to the market fit and need for its verticalised RPA solution,” he added.