Element5, a San Jose, California-based SaaS startup that simplifies the adoption of RPA by offering end-to-end workflow automation as a SaaS product, raised $30 million in Series B funding.
The latest funding round was led by Insight Partners, which also led Element5’s $15 million Series A in August 2021. Element5 has raised total capital of $48.5 million to date.
Element5 aims to use the funding towards accelerating the adoption and deployment of advanced automation solutions across various service lines within the $400 billion post-acute care market.
Company: Element5 Inc.
Round: Series B
Funding Month: May 2022
Lead Investors: Insight Partners
Company Website: https://www.e5.ai/
Software Category: Automation as a Service solution leveraging AI and RPA
About the Company: Founded in 2019, Element5 uses artificial intelligence (AI)-powered robotic process automation (RPA) to deliver pre-built workflow automation solutions for post-acute care organizations. The technology allows post-acute care organizations to automate their processes, eliminating highly repetitive, logic-driven administrative work, enabling them to focus on higher-value tasks, improve operational efficiency and combat the ongoing post-acute care staffing crisis. Element5 has gained a dominant position as an automation provider for post-acute care and was named by CB insights as a Digital Health 150 company. Element5 is based in San Jose, California, and has its APAC headquarters in Chennai, India.