Element5 Raises $2.5 Million In Seed Funding

By Annie Baker ● June 1, 2020
  • Element5, a San Jose, California-based company that is building homecare’s first automation hub, announced it raised $2.5 million in a seed round of funding

Element5, a San Jose, California-based company that is building homecare’s first automation hub, announced it raised $2.5 million in a seed round of funding. Launched in late 2019, Element5 is rethinking how work gets done by bringing automation-as-a-service solutions to homecare and hospice providers.

The technology developed by Element5 is built on the foundation of artificial intelligence and robotic process automation. And it delivers end-to-end automations for key workflows.

“We’re very fortunate to have the support of our investors to help us bring high-impact technology to a space that deserves it,” said 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 Element5 co-founder Eric Gordon (Chief Revenue Officer) have served the Homecare and Hospice market for over 12 years.

“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,” added Gordon.

CTO Murali Vivenankandan and COO Bhavani Raman are also co-founders of the company.

“I am excited about helping providers adopt cutting-edge technology in a simple, meaningful way,” explained Vivekanandan. “Combining AI, RPA, and other complementary tools will create powerful solutions that will truly change the way our clients get work done.”