Element5, a California-based company with headquarters in Chennai, has raised $15 million in a Series A fundraising round headed by Insight Partners, worldwide private equity and venture capital organisation. Maxwell Investment Partners was also a participant in the round.

The funds will be used by the firm to accelerate the growth of its post-acute care product, as well as to expand its market position through client expansion and global operations, according to the official release.

Element5 is a SaaS-based automated workflow provider for home health, hospice, senior living, skilled nursing, and other allied healthcare verticals. It was founded in 2019 by Joe Randesi, Eric Gordon, and Bhavani Raman.

It automates time-consuming and repetitive administrative duties for post-acute care, allowing healthcare workers to focus on more important responsibilities. It automates end-to-end workflows with software robots that log into common systems and conduct daily administrative duties in the same way that humans do.

Joe Randesi, Co-founder and CEO, Element5, said: “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 organisations 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,” he said.