Eleos Health: Why we invested

Avichay Nissenbaum
Feb 26 · 3 min read

By many metrics, life on earth has never been this good. Technological, economic, and political progress have led to ever-increasing supply of water, food, energy, and shelter, improving peace and reducing poverty. Yet for the first time in history, more people die each year from suicide than war, murder, and natural disasters, combined. Suicide is just one of the many tragic consequences of what has broadly been referred to as the “mental health crisis” — a world in which our minds fail to navigate our life circumstances effectively.

Beyond the tragedy of self-violence, mental disorders can also pose a danger to close friends, family, or even complete strangers — as we’ve seen in houses of worship and education. With automation threatening hundreds of millions of jobs, religious communities disintegrating, climate change threatening coastlines and habitats, and addictive social media platforms consuming more of our attention, the mental health crisis seems to have just begun. In fact, mental disorders are projected to cost $16 trillion globally by 2030, more than cancer, diabetes, and respiratory diseases combined.

While many approaches to improving mental health exist, conversational therapy has emerged as the dominant Western modality, outperforming the purely pharmacological approach. Despite its status as the “gold standard”, therapy is far from a perfect solution. First and foremost, the social stigma associated with mental illness discourages many from pursuing treatment. But even after overcoming this stigma, a limited supply of therapists makes accessing this form of treatment a challenge, especially for those who can’t afford it without insurance. Furthermore, only 50% of therapy sessions are considered effective; between 20 and 57 percent of therapy clients do not return after their initial session, another 37 to 45 percent only attend therapy a total of two times, and the number one reason clients prematurely terminate therapy is dissatisfaction with the therapist.

Ironically, another body of research over the past fifty years has demonstrated that one factor — more than any other — is associated with successful treatment: the quality of the relationship between the therapist and the patient. While celebrities, media, and employers tackle the stigma issue and teletherapy platforms like Talkspace and Betterhelp address the access challenge, the most acute pain and therefore opportunity in mental health is to improve the therapeutic alliance — the relationship between therapist and patient.

Enter Eleos Health.

Eleos Health gives therapists superpowers and improves patient outcomes by automatically collecting and analyzing pre, in, and post-session data. From administering digital surveys that help the therapist understand each patient’s status, progress, and trajectory, to generating insights about the patient’s talking patterns, tone, and word choice, Eleos securely transcribes each conversation to generate novel insights about the patient’s condition and recommend remediations, in real-time.

Using the Eleos Health system, therapists spend less time on administration and documentation, patients receive better, more personalized treatment, and providers increase revenue per session by leveraging existing reimbursement codes. Employers facing pressure to invest in their employee’s mental health and insurers facing ballooning mental health costs rely on Eleos Health to allocate more resources to top performing providers and measure ROI more effectively. Finally, the entire world benefits from more safety, security, and mental stability.

Today we’re excited to announce our investment in Eleos Health, the first data-driven system for measuring and improving mental health quality of care. Led by CEO Alon Joffe, CTO Alon Rabinovitch, and CPO Dror Zaide, all motivated by personal experiences in the emotionally-intense conditions of the IDF, Eleos has attracted CCO Shiri Sadeh-Sharvit, a former visiting scholar at Stanford with a PhD in Clinical Psychology, alongside advisors that include David Clark, PhD, one of the architects of the IAPT, England’s largest mental health treatment program, Steven Hollon, Vanderbilt University’s Professor of Psychology, and Dr. Abilgail Hirsch, the former CCO of MyStrength, a recent acquisition by publicly-traded Livongo.

In a matter of months, Eleos Health captured the interest of several US mental health providers and is now rolling out pilots in several key metros. In a world where the only constant is change, we are delighted to partner with and support Alon J., Alon R., Dror, Shiri and the rest of the Eleos Health team, as they address one of the most critical challenges we face as a species!

looltalk

Thoughts from lool ventures and resources for early stage…

Avichay Nissenbaum

Written by

General Partner @ lool ventures

looltalk

looltalk

Thoughts from lool ventures and resources for early stage Israeli founders

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