AI startup EliseAI has raised $350 million in a new funding round at a $4 billion valuation, doubling its valuation from the time it raised its Series E last August.
The latest round was co-led by Andreessen Horowitz and Bessemer Venture Partners. EliseAI, founded in 2017, develops AI software that automates administrative and operational work for companies in the housing and healthcare sectors.
The company said its software is used by 1 in 6 apartments across the country. EliseAI also announced this summer that it had crossed $200 million in annual recurring revenue (ARR).
The latest funding comes as EliseAI continues to expand the range of work its platform can automate. Earlier this month, the company launched an AI “teammate” called Apollo, which helps users perform tasks within the EliseAI platform.
“It’s built natively into the same platform that already runs leasing, maintenance, and renewals,” co-founder and CEO Minna Song told TechCrunch. “So it can act across every role on a property team.”
Apollo is part of EliseAI’s broader push to automate operational work in the housing sector. The company’s platform supports workflows across areas including leasing, maintenance and renewals, allowing housing providers to automate processes that would otherwise require staff intervention.
EliseAI also operates in healthcare, where its technology automates administrative work for specialty physician groups. The platform can handle processes including patient inquiries, referrals, scheduling, insurance verification, chart preparation and follow-up.
“from the first inbound call through referrals, scheduling, insurance verification, chart prep, and follow-up, so nothing falls through the cracks,” Song said, describing the company’s healthcare offering.
EliseAI has focused on housing and healthcare as its two primary markets. According to Song, the company chose these sectors because they are two of the “largest expenses for American households.”
The fresh funding will support EliseAI’s continued product development and expansion of its teams. The company plans to grow its engineering, deployment and sales teams across North America and establish San Francisco as a second engineering hub alongside its New York headquarters.
EliseAI’s latest financing comes roughly a year after its Series E round, when the company was valued at $2.2 billion. The new $4 billion valuation represents a significant increase as the startup expands its AI-powered automation products across housing and healthcare.
With the latest round, EliseAI is continuing to build its platform around AI-driven automation for industry-specific workflows. Its housing business is expanding beyond leasing and resident communications into maintenance, renewals and other operational processes, while its healthcare business is focused on automating administrative workflows for physician groups.
The company’s latest funding and the launch of Apollo reflect its broader effort to bring AI deeper into the day-to-day operations of housing and healthcare organisations.
