A $17M Series A has landed for Onos Health, whose AI reads behavioral health records for insurers. Costanoa led the round. Flare Capital Partners and CVS Health Ventures joined in, lifting the company’s total funding to $23.5M.
The platform reads both structured and unstructured behavioral health records, the clinical notes that rarely fit cleanly into a database, to surface care patterns, treatment gaps and quality signals that payers can act on. Health plans use those insights to steer provider networks toward better outcomes and lower costs, and the company already works with several commercial insurers, including Aetna.
The financing follows a $6.3M seed round from October 2025 co-led by Haystack and Pathlight Ventures. Onos plans to spend the new capital on wider adoption among health plans, team growth and its AI infrastructure.
The market is large and data-poor: more than 23% of US adults live with a mental illness, and annual US spending on mental health and substance use treatment approaches $140B. Health plans have long struggled to interpret clinical data in this segment, which is why CVS Health Ventures backed the company, according to vice president and general partner Alyssa Reisner.
Reisner said the platform draws actionable signals from records that plans have struggled to interpret, giving payers a clearer read on treatment patterns and care quality.
