EliseAI Raises $350 Million at $4 Billion Valuation to Automate More Customer Work

EliseAI has raised $350 million at a $4 billion valuation, giving it capital to pursue a bigger role in the daily operations of housing providers and healthcare practices. The September 29 financing backs a shift the company has already begun: moving beyond its initial work in leasing and resident communications.

The backers and the business so far

Andreessen Horowitz and Bessemer Venture Partners led the round. Ontario Teachers’ Pension Plan, Sapphire Ventures and Navitas Capital participated. Bessemer partner Sameer Dholakia joined EliseAI’s board as part of the financing.

EliseAI said in June that it had surpassed $200 million in annual recurring revenue after doubling revenue year over year for five consecutive years. It also says its platform powers one in six U.S. apartments. Those are company-reported measures of its existing business, not results of the expansion this round will fund.

From conversations to completed tasks

Housing operators initially used EliseAI for leasing and resident communications. The company says its platform now covers resident services, maintenance and renewals. Earlier in September, it launched Apollo, an AI agent that EliseAI says can carry out tasks across its platform within the systems property teams already use. Apollo predates this financing; it shows the kind of broader operational work the company wants to pursue.

In healthcare, EliseAI serves specialty physician groups. It describes software for administrative work from inbound calls and scheduling through insurance verification, chart preparation and follow-up. Housing and healthcare involve different customers, but the company’s stated approach in both is to take on more of the work that surrounds their core services.

Every year our customers trust us with more of their operations, and that kind of trust is only earned by a company built to last.

Minna Song, EliseAI co-founder and CEO

The next investment is in delivery

EliseAI plans to use the new money to develop products, automate more customer operations and grow its engineering, deployment and sales teams across North America. It also plans to establish San Francisco as a second engineering hub alongside its New York headquarters. Those hires and the hub are plans, not completed expansions.

The financing does not specify how much will go to each industry or set a timetable for a wider rollout. The next measure of the investment will be whether EliseAI can turn its hiring and product plans into more completed work for customers in both settings.