Element5, the San Jose startup building Homecare’s first Automation Hub, has announced the closing of $2.5 million in seed round funding.
Founded in late 2019, Element5 is rethinking the way work gets done by bringing automation-as-a-service solutions to Homecare and Hospice providers. The technology is built on the foundation of artificial intelligence (AI) and robotic process automation (RPA) and delivers end-to-end automations for key workflows. Accompanying each automated workflow are rich, powerful analytics that help clients gain valuable insight into their business.
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“We’re very fortunate to have the support of our investors to help us bring high-impact technology to a space that deserves it,” says Joe Randesi, CEO and co-founder of Element5. “Homecare is filled with great technology companies that offer robust, powerful applications. However, there is still a substantial amount of manual processes required to run Homecare operations. This is where we found the capabilities of RPA such a great fit, since it leverages existing systems and can perform actions just like a human. Once clients see automation working in conjunction with their existing software, they quickly realize the ROI and often ask what else is possible.”
Randesi and co-founder Eric Gordon, Element5’s Chief Revenue Office, have served the Homecare and Hospice market for 12+ years. Gordon says, “We empower our clients to perform at the top of their competency, enabling them to focus on the highest value tasks. With ever-changing industry rules and regulations, the time and energy spent just to stay compliant is enormous and often creates operational bottlenecks. Automating compliance-related workflows will provide our clients with the freedom they need to rethink how work gets done.”
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Element5 co-founders also include CTO Murali Vivenankandan and COO Bhavani Raman. “I am excited about helping providers adopt cutting-edge technology in a simple, meaningful way,” says Vivekanandan. “Combining AI, RPA, and other complementary tools will create powerful solutions that will truly change the way our clients get work done.”
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