Full-Time
Provider quality platform reducing costs
$200k - $275k/yr
San Francisco, CA, USA
Hybrid
Three days on-site per week required.
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Onos Health builds a configurable platform for health plans to measure provider quality and reduce waste. It analyzes large volumes of unstructured data and clinical notes to determine how well providers deliver care and where improvements are needed, helping plans improve member outcomes and lower costs. The platform integrates with existing systems and runs machine learning and AI models locally, keeping data private and compliant with HIPAA. This approach differs from many competitors by prioritizing locally hosted AI, strong data security, and practical actions that address inefficiencies in the care process. The goal is to help health plans improve care quality while cutting the roughly $200 billion lost annually to unnecessary or abusive provider practices.
Company Size
11-50
Company Stage
Series A
Total Funding
$23.3M
Headquarters
San Francisco, California
Founded
N/A
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Unlimited Paid Time Off
Paid Parental Leave
Health Insurance
Dental Insurance
Vision Insurance
Pre-tax Commuter Benefits
401(k)
Company Equity
Remote Work Options
Hybrid Work Options
Stock Options
Ground-floor opportunity to help build a team and culture
Regular team events and offsites
Personal equipment and home office setup
Unlimited vacation policy
Paid parental leave
Medical, dental, and vision insurance
Pre-tax commuter benefits
401(k)
Significant equity as an early employee
Direct mentorship from experienced founders
Ground-floor opportunity to help build a team and culture
Regular team events and offsites
Company-provided equipment and home office setup
Onos Health raises $17 million Series A to accelerate adoption of its behavioral Health AI platform for health plans. Aug 26, 2026, 10:00 ET Funding led by Costanoa and joined by CVS Health Ventures and Flare Capital Partners SAN FRANCISCO, Aug. 26, 2026 /PRNewswire/ - Onos Health, the behavioral health clinical intelligence platform for payers today announced a $17 million Series A financing round led by Costanoa, with participation from Flare Capital Partners and strategic investment from CVS Health Ventures. The financing follows strong commercial momentum, with leading U.S. health plans, including Aetna, leveraging Onos' AI platform to improve behavioral health outcomes while driving affordability through lower total cost of care. Behavioral health has become one of the most pressing challenges facing the U.S. healthcare system. More than 23% of U.S. adults experience a mental health condition annually, while direct medical costs for behavioral health exceed $140 billion each year. Despite the scale of spending, health plans often lack the data systems and clinical visibility to manage quality across their populations, which forces plans into reactive oversight that can be abrasive to members and result in delays to care. "Behavioral health care quality is difficult to understand and manage because it is recorded in unstructured clinical documentation which legacy solutions cannot process," said Akshay Agarwal, co-founder and CEO of Onos Health. "AI has the potential to fundamentally transform how health plans manage care by making clinical quality and care pathways measurable at scale. Onos leverages proprietary AI to give plans unprecedented visibility into their populations, enabling them to proactively partner with providers, eliminate manual administrative work, and improve outcomes while driving efficiency across the healthcare system." Onos Health built the largest behavioral health care quality database to develop its AI platform, and partnered with leading health plans and industry medical leaders to build proprietary models to handle the immense complexity of behavioral health diagnoses and service lines. The result is a new platform capability deployed across national and regional health plans to solve some of behavioral health's biggest challenges: * 35% improvement in clinical standard adherence * 75% improvement in clinical review efficiency resulting in fewer delays in care * >6% reduction in behavioral health program costs within 12 months through improved clinical quality "Behavioral health populations are often complex and require dedicated focus and coordination with health care providers to improve outcomes and affordability," said Alyssa Reisner, Vice President and General Partner, CVS Health Ventures. "Onos Health helps surface actionable clinical insights from data that has historically been difficult to interpret. It provides a clearer understanding of treatment patterns and quality of care and supports more informed decision-making and collaboration with behavioral health care providers." Onos' AI platform integrates claims, utilization and clinical documentation with quality guidelines to provide an actionable view of care pathways across populations. By analyzing both structured and unstructured data, the platform helps identify care patterns, treatment gaps, and areas for quality improvement. The platform demonstrates that more than 70% of behavioral health care quality signals are embedded in unstructured documentation, which Onos transforms into actionable clinical intelligence. These insights enable health plans to proactively collaborate with their provider networks to guide members toward the highest-quality, most cost-effective care options. "Behavioral health is one of the largest and least understood categories in healthcare, representing billions of dollars in spend and enormous variation in care costs with low correlation to care quality," said Amy Cheetham, Partner at Costanoa. "The Onos team understands firsthand the operational challenges health plans face, and they are building critical foundational infrastructure for behavioral health care that has been historically overlooked." "Onos is giving health plans the behavioral health clinical intelligence they need to move from reactive oversight to value-driven healthcare," said Margaret Malone, Partner at Flare Capital Partners. "Health plans using Onos' AI-powered platform are seeing significant improvement in clinical quality and affordability, and we are excited to partner with Akshay and the team as they build the category" About Onos Health Onos Health is the behavioral health clinical intelligence platform that leverages proprietary AI to maximize health outcomes and affordability. Onos brings clarity to care quality and utilization, so payers can proactively partner with providers to identify the optimal care pathways for members and deliver the best possible outcomes across their populations. Built using the largest behavioral health quality database and trusted by 3 of the 6 largest health plans in the country, Onos enables a more collaborative and proactive approach for health plans and providers to achieve their health outcome goals. SOURCE Onos Health Inc. / BAM Agency
Ex-Bain operators raise $17M to tackle behavioural healthcare's data blind spot with AI. August 26, 2026 * Onos Health has raised $17 million in Series A funding led by Costanoa, with CVS Health Ventures and Flare Capital Partners joining less than a year after its previous round. * The AI platform is live with Aetna and three of the six largest US health plans, claiming to cut behavioural health program costs by more than 6% within 12 months. * CEO Akshay Agrawal spent years advising the health plans he now sells to, at Bain & Company and Bain Capital, before founding Onos in 2024. Akshay Agrawal spent years on the other side of the pitch meeting, advising health plan executives at Bain & Company on how to run their businesses better. Now, those same executives are paying his company to fix a problem he watched them struggle with from the inside: behavioural health data that is too messy for legacy systems to use. Onos Health has raised $17 million in Series A funding led by Costanoa, with Flare Capital Partners and CVS Health Ventures joining as investors. The round follows a $6.3 million raise Onos closed in October 2025, co-led by Haystack and Pathlight Ventures with Bertelsmann Healthcare Investments and Nebular participating, meaning the company has now raised roughly $23.3 million in under a year. Turning clinical records into actionable intelligence. Behavioral health has become the fastest-growing cost driver for many US health plans since the pandemic, and direct medical costs already exceed $140 billion a year in the country. More than 23% of US adults experience a mental health condition annually, yet health plans still lean on manual, retrospective chart reviews to judge whether care was appropriate. Onos says more than 70% of the signals plans need to assess care quality sit in unstructured documentation, including session notes, treatment plans, and assessments, which its AI models are built to parse. Instead of a plan waiting months for a retrospective audit to catch a provider drifting from clinical guidelines, Onos says its platform flags the pattern in near real time. The company reports a 35% improvement in clinical standard adherence, a 75% improvement in review efficiency, and a reduction of more than 6% in behavioural health program costs within 12 months. Behavioral health data platforms sit adjacent to a broader and increasingly crowded value-based care analytics market, where Innovaccer and HealthEdge already sell payer-facing tools. Unlike competitors, Onos trained its models specifically on behavioural health documentation, a category that larger vendors have historically folded into broader utilisation-management products rather than treated as a distinct discipline. A founder who used to sit across the table. Onos was founded in San Francisco in 2024 by Agrawal, Josh Levitan, and Suhaas Prasad, and now has 18 employees. Agrawal's background is squarely payer-side: after Bain & Company, he moved to Bain Capital, investing in care delivery platforms, then took operating roles at mPulse, a member-engagement platform for health plans, and Presence, a virtual behavioural health provider for children and schools. Levitan brings 15-plus years of building technology for health plans and government healthcare programs, including Medicaid initiatives such as Hawaii Med-QUEST and Wisconsin BadgerCare. That pedigree appears to be exactly what drew CVS Health Ventures in. The strategic investor has previously backed Thyme Care, an AI-powered cancer care navigation startup that became a unicorn on a $97 million raise, and Simile, a Stanford spinout that closed $200 million months after its Series A, both signs that CVS's venture arm favours founders who can move from early traction to expansion quickly. Investors see infrastructure opportunity. "Behavioral health care quality is difficult to understand and manage because it is recorded in unstructured clinical documentation which legacy solutions cannot process. AI has the potential to fundamentally transform how health plans manage care by making clinical quality and care pathways measurable at scale," said Agrawal, co-founder and CEO of Onos Health. "Behavioural health is one of the largest and least understood categories in healthcare," said Amy Cheetham, partner at Costanoa. She said the company is building "critical foundational infrastructure for behavioural health care" that has historically been overlooked. CVS Health Ventures also sees an opportunity to improve how health plans interpret complex behavioural health data. "Onos Health helps surface actionable clinical insights from data that has historically been difficult to interpret," added Alyssa Reisner, vice president and general partner at CVS Health Ventures. "Onos is giving health plans the behavioural health clinical intelligence they need to move from reactive oversight to value-driven healthcare. Health plans using Onos' AI-powered platform are seeing significant improvement in clinical quality and affordability, and we are excited to partner with Akshay and the team as they build the category," concluded Margaret Malone, partner at Flare Capital Partners. Two funding rounds inside a year is a signal. What Onos still has to demonstrate is whether AI trained on clinical documentation can shift outcomes and costs across a large, diverse population of health plans, or whether, like many category-defining bets in payer tech, the hardest part is not the model but getting entrenched health plans to change how they work.
Onos Health, a behavioural health clinical intelligence platform for health plans and payers, has raised $17 million in Series A funding led by Costanoa. CVS Health Ventures and Flare Capital Partners also participated. The company's software uses natural language processing to scan unstructured therapy notes and assessments, helping insurers evaluate whether care aligns with clinical guidelines. More than 70% of behavioural health quality signals are trapped in non-standardised documentation that legacy payer systems cannot interpret. Onos reports a 35% improvement in clinical standard adherence, a 75% increase in clinical review efficiency, and more than 6% reduction in behavioural programme costs within 12 months across major health plan deployments. The platform is currently used by Aetna and three of the nation's six largest health plans. The funding will expand deployment across commercial insurers, Medicare Advantage plans, and Medicaid programmes.
Investing in Onos Health. At Flare Capital Partners, we are excited to share our investment in Onos Health, the behavioral health clinical intelligence platform for payers. Today, Onos Health announced a $17.0 million Series A financing round led by Costanoa, joined by Flare Capital Partners and a strategic investment from CVS Health Ventures. Why we are excited. Behavioral health has become one of the largest and fastest-growing cost centers for health plans, yet it remains one of the least transparent and least software-enabled areas of payer operations. Despite more than $140 billion in annual direct medical spending, payers often lack the clinical visibility needed to manage quality, utilization, and outcomes. Decades of outsourcing to managed behavioral health organizations (MBHOs), combined with highly manual clinical review of unstructured documentation, have left behavioral health dependent on fragmented, underdeveloped workflows that drive inconsistent decisions, administrative burden, and reactive management. Our recent survey of senior health plan executives reinforced what we are hearing across the market: more than 70% identified quality transparency as their top near-term priority with behavioral health consistently emerging as one of the largest and least understood condition areas. When we saw what Onos had built, we immediately recognized a rare alignment between a hair-on-fire problem for payers and a team with deep domain expertise and firsthand understanding of the challenge. Why now: A generational shift in behavioral health management. Several structural forces are converging to create a "why now" moment for Onos: * Behavioral health has become a strategic priority. As behavioral health becomes increasingly central to member outcomes and overall health, payers are rethinking how care is managed. They are bringing behavioral health capabilities in-house and moving beyond broad, reactive utilization management toward proactive, data-driven clinical management that helps members access the right care, improves quality, and embeds intelligence directly into clinical workflows. * AI can structure previously unusable clinical data. Behavioral health documentation is dense, subjective, and inconsistent. AI now enables payers to structure this data at scale and align it to evidence-based guidelines, turning clinical review into a standardized, software-driven process. * Legacy platforms were never built for behavioral health. Existing utilization management platforms and payment integrity vendors are optimized for medical, rules-based workflows and retrospective review, leaving behavioral health without a purpose-built system of record. Onos sits at the intersection of these trends, offering a platform that is not only more transparent and consistent, but also structurally aligned with payer operations. Why Onos. Onos Health is building the AI-enabled clinical intelligence platform for one of the most complex and underpenetrated areas of the payer stack: behavioral health. Today, payers rely heavily on manual processes and growing clinical teams to manage utilization, understand quality, and ensure members receive the right care. Onos ingests unstructured clinical documentation, converts it into structured, decision-ready inputs, and applies configurable clinical guidelines to generate evidence-based recommendations, with full auditability into every determination. We spoke with clinical and payer leaders already using the platform, and the same theme came back repeatedly: Onos mirrors how reviewers actually reason through a case, rather than repurposing a generic rules engine for behavioral health. That distinction is why we think this product holds up under real clinical scrutiny, reinforcing our conviction that purpose-built technology is needed for behavioral health. In our view, this positions Onos to become the category-defining platform for behavioral health clinical intelligence at a time when payers are increasingly bringing these workflows in-house. Onos supports clinical workflows across behavioral health, with particularly strong adoption in high-cost, high-variation areas such as ABA, inpatient, and SUD. The platform spans utilization management, quality and clinical review, provider engagement, and FWA detection. Onos has become the clinical intelligence layer that powers how payers manage behavioral health across their populations. Early commercial traction reinforces this view. Onos is now trusted by three of the six largest health plans in the country, including Kaiser Permanente and Aetna, a CVS Health company, and is seeing strong pull from both payers and MBHOs, with a growing pipeline that includes several additional large national and regional plans. Customers already partnered with Onos have seen a 35% improvement in clinical standard adherence, a 75% improvement in clinical review efficiency resulting in fewer delays in care, and >6% reduction in behavioral health program costs within 12 months through improved clinical quality. Early customer feedback suggests the product is becoming embedded in daily clinical workflows, positioning Onos as a system of record for behavioral health oversight rather than a point solution. A team that knows the problem firsthand. We are especially excited about Onos's founding team, which combines deep payer, operational, and technical expertise. Co-founder and CEO Akshay Agrawal is an experienced healthcare operator with a track record of building and scaling payer-facing software businesses, including leadership roles at mPulse and Presence. Across our diligence calls, Akshay was consistently described as thoughtful and deeply customer-oriented, which has translated directly into rapid sales cycles and strong early customer trust. CTO Suhaas Prasad brings experience building scalable, data-intensive platforms, having previous experience as a CTO and co-founder at a commerce platform. CPO Josh Levitan brings deep experience in healthcare data and payer workflows, having held product leadership roles at mPulse and Community Connect Labs. The team is further supported by a highly credible advisory bench that brings deep clinical, operational, and payer credibility, and has been instrumental in shaping the product and building trust with customers. Together, this combination of payer go-to-market, technical depth, and clinical expertise has enabled Onos to move quickly from concept to commercial traction and convinced us early that they have the potential to build a defining company in behavioral health. Looking ahead. We believe behavioral health is entering a generational shift - from manual, opaque utilization management to AI-enabled clinical intelligence. Onos is already demonstrating measurable improvements in consistency, turnaround time, and provider engagement, and we believe the company is well positioned to become foundational infrastructure for behavioral health management. At Flare Capital Partners, we believe the next era of healthcare infrastructure will be defined by transparency, automation, and intelligence. Onos Health exemplifies this shift, and we are thrilled to partner with Akshay and the team as they build the future of behavioral health management. To learn more about Onos Health: reach out to Margaret Malone ([email protected]), Alyssa Tsenter ([email protected]), or any member of the Flare Capital Partners team - we would love to hear from you. We are excited to be on this journey together! Read the original announcement here. Stay in touch with Flare Capital About Flare Capital Partners Flare Capital Partners is the leading healthcare technology venture capital firm advancing innovation-driven companies to improve positive health outcomes, broaden care access, and lower healthcare costs. We partner with exceptional founders solving healthcare's hardest challenges, supporting each with our deep sector expertise, unparalleled industry resources, and proven access to commercial opportunities. Our team of established investors and senior operating executives has invested in 80+ companies and has nearly $1 billion in assets under management. Learn more at www.flarecapital.com. Date August 26, 2026 Flare Capital Partners We invest in exceptional founders transforming healthcare. Our entrepreneurs are addressing important issues across the entire healthcare technology industry. Share insight
Onos Health raises $6M to Build the decision backbone for behavioral health. Onos Health, a data-driven startup redefining how payers manage behavioral health, has raised $6 million in fresh funding from Haystack, Pathlight Ventures, Bertelsmann Investments, and Nebular. Founded by Akshay Agrawal, the company is on a mission to eliminate waste, friction, and bias from the behavioral healthcare system - where payers, providers, and patients often operate on different timelines, disconnected systems, and inconsistent definitions of "quality." With this new round, Onos aims to become the AI-powered operating layer for behavioral health decisions, helping insurers and networks align care pathways with data, not guesswork. Where behavioral health is breaking down. In the U.S., behavioral health remains one of the most administratively burdensome areas in medicine. Health plans face rising claims volume, unclear outcome metrics, and inconsistent provider documentation - all while demand for therapy and psychiatric care surges. Studies show that one in four Americans now seeks behavioral care, yet most health plans still rely on manual review systems designed for physical medicine. Onos estimates that over $60 billion annually is lost in inefficiencies - denials, misaligned care, and redundant reviews. Those losses don't just reflect poor management; they represent slow decision cycles. A claim delayed by 10 days doesn't just cost time - it risks treatment dropout, worsened outcomes, and higher downstream costs. That's the operational hole Onos is closing. Inside the platform. The company's product ingests behavioral health claims, clinical notes, and utilization data, then applies machine learning to identify patterns of overuse, underuse, or misaligned interventions. Its system generates real-time decision support that mirrors human clinical judgment - automating low-risk approvals and flagging edge cases for human review. By aligning payers' policies with evidence-based standards, Onos shortens cycles from days to minutes while maintaining clinical oversight. So far, early pilots with regional health plans have shown up to 60% faster authorizations and 30% higher adherence to standardized care pathways - a shift that could redefine payer-provider collaboration. The hidden advantage: owning the interface between insight and action. What makes Onos different isn't just its AI models - it's where those models live. Most healthcare AI tools sit upstream, generating predictions about cost, risk, or outcomes. But those insights often die in dashboards, never reaching the workflows where decisions are actually made. Onos, by contrast, embeds itself inside the decision layer - the exact interface where human reviewers, policy logic, and patient outcomes collide. This may sound subtle, but it's where durable companies are born. In complex industries like healthcare, the deepest moats form not around prediction, but around execution dependency. If your system becomes the layer through which every decision flows - and improves with every cycle - you evolve from a product into infrastructure. That's the shift Onos is quietly executing. For founders, there's an unspoken lesson here: own the bottleneck others take for granted. Don't just optimize visibility; automate the action. In B2B systems, the biggest arbitrage lies between "knowing" and "doing." Whoever controls that handoff controls the system. That's the power of what Onos is building. It's not just teaching machines to predict - it's teaching institutions to decide better, faster, and with less bias. Market context: A system under pressure. The timing couldn't be sharper. The global behavioral health market - encompassing therapy, psychiatry, substance use, and digital interventions - is projected to surpass $800 billion by 2030, growing at ~5 - 7% CAGR. Meanwhile, health payers are increasingly under regulatory pressure to prove mental health parity - ensuring behavioral benefits are managed with the same rigor as physical health. AI-driven utilization management platforms are emerging as critical infrastructure for compliance and efficiency. Analysts estimate that AI adoption in healthcare administration could reduce costs by up to $150 billion annually by 2027 (McKinsey). Behavioral health, with its high variability and documentation complexity, is arguably the segment most ripe for impact - and least transformed so far. Use of funds & growth path. According to the company, the $6M seed funding will be used to: * Expand Onos' AI and data science teams to refine behavioral health-specific models * Deepen integrations with health plan systems (claims, provider networks, EHRs) * Strengthen explainability and trust features for regulatory compliance * Scale partnerships with regional and national insurers * Build feedback systems that adapt to local plan policies and reviewer decisions Founder Akshay Agrawal, who previously worked in product leadership across healthcare and AI, emphasizes that behavioral health data presents unique modeling challenges - "noisy, subjective, and inconsistent." The company's core innovation lies in turning those inconsistencies into patterns that systems can learn from safely. A broader industry signal. Onos' raise reflects a broader pattern: a new generation of startups building "decision infrastructure" - not just analytics or automation tools. It's part of a wave that includes healthtech players in claims optimization, clinical coding, and AI-assisted care routing. These startups share one thesis: the future of healthcare isn't just more data - it's better data actionability. That shift is resonating with investors. Venture funding in digital health analytics and payer-facing AI tools has grown 230% since 2020, with behavioral health tech seeing one of the steepest climbs (CB Insights). The reason is structural: unlike consumer wellness apps, payer AI tools directly tie to bottom-line ROI - lower medical loss ratios, fewer denials, and measurable quality-of-care metrics. Risks & What to watch. * Data fragmentation: Behavioral health data comes from disparate sources (claims, EMRs, notes) - normalization is key. * Trust barriers: Payers need explainable, audit-ready AI to avoid regulatory pushback. * Adoption inertia: Human reviewers and clinical teams may resist automation without robust oversight features. * Policy variation: Each payer's rules differ; scalable customization remains complex. Despite these, Onos' strategy - embedding within decision systems rather than standing beside them - gives it a unique growth path. Every decision made through Onos trains its models, compounding precision and defensibility over time. Growth & scaling insights. Latest additions.