a16z-Backed EliseAI Raises $350M, Doubles Valuation to $4B

AI startup EliseAI announced on Tuesday that it has successfully raised $350 million, driving its total valuation to $4 billion. This impressive milestone marks a twofold increase from the company's worth during its Series E funding round last August. The latest capital injection was co-led by prominent venture firms Andreessen Horowitz and Bessemer Ventures.

Founded in 2017, EliseAI specializes in building automation software designed to handle administrative and operational workflows for the housing and healthcare sectors. According to the company, its software is currently utilized by 1 in 6 apartments across the country, following a milestone earlier this summer when its annual recurring revenue (ARR) surpassed $200 million.

Earlier this month, EliseAI expanded its product suite by launching an AI teammate named Apollo, engineered to assist with various operational tasks directly within the company's core platform ecosystem.

Stock photo for illustration only, not from the actual event

"It’s built natively into the same platform that already runs leasing, maintenance, and renewals, so it can act across every role on a property team."

Minna Song, Co-founder and CEO of EliseAI

Minna Song, co-founder and CEO, explained to TechCrunch that the tool is integrated directly into the foundational platform that already manages leasing, maintenance, and renewals, enabling the AI to assist across every single role on a property management team. On the healthcare front, the platform automates patient-related administrative workflows for specialty physician groups, managing everything from initial inbound calls and referrals to scheduling, insurance verification, chart preparation, and follow-ups to ensure seamless execution.