Element5 Announces the Closing of $2.5 Million Seed Funding
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.
“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.”
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.”