EliseAI raises $350 million at $4 billion valuation to deepen AI automation in housing and healthcare

TLDR

• EliseAI raised $350 million at a $4 billion valuation, nearly double the $2.2 billion it was worth after its $250 million Series E just 13 months ago.¹⁴
• The round was co-led by existing investors Andreessen Horowitz and Bessemer Venture Partners, joined by new investor Ontario Teachers' Pension Plan and existing backers Sapphire Ventures and Navitas Capital.²³
• EliseAI automates administrative work for housing and healthcare operators; its software now runs leasing, maintenance and renewals for roughly one in six US apartments and has passed $200 million in annual recurring revenue.²⁴
• The company will use the capital to expand engineering, deployment and sales teams and open a second engineering hub in San Francisco alongside its New York headquarters.³

EliseAI, the AI company that automates back-office operations for landlords and health systems, has raised $350 million at a $4 billion valuation, the company announced.³ The round was co-led by existing investors Andreessen Horowitz and Bessemer Venture Partners, with new investor Ontario Teachers' Pension Plan and existing backers Sapphire Ventures and Navitas Capital also participating.²³ It is the fourth time EliseAI has raised from a16z and Bessemer since 2023, and the new valuation is nearly double the $2.2 billion mark set by its $250 million Series E just 13 months earlier.⁴

Founded in 2017, EliseAI builds AI that automates operational and administrative workflows for two of the least digitized, most heavily regulated corners of the economy: property management and healthcare administration.²⁴ On the housing side, its platform handles leasing, resident communications, maintenance requests and lease renewals for landlords, and the company says it now powers roughly one in six apartments in the US, with more than 30 million Americans having interacted with it.³⁴ Earlier this month EliseAI launched Apollo, an AI "teammate" built into the same platform that can complete tasks across leasing, maintenance and renewals rather than handling one narrow function, according to co-founder and CEO Minna Song.² On the healthcare side, a dedicated EliseAI business automates the patient journey for specialty physician groups, from the initial inbound call through referrals, scheduling, insurance verification, chart preparation and follow-up.²³ The company said in June it had surpassed $200 million in annual recurring revenue, having doubled revenue year over year for five straight years.⁴

Both lead investors have been backing vertical AI beyond EliseAI in adjacent categories: Andreessen Horowitz led a pre-seed round earlier this year in Smart Bricks, which is building an AI infrastructure layer for global real estate, while Bessemer has backed Flagler Health, an AI-native musculoskeletal-care startup, as part of a broader push into AI for construction and real estate it calls the "built world."² The new capital will fund product development and let EliseAI expand its engineering, deployment and sales teams, including a second engineering hub in San Francisco alongside its New York headquarters.³

Why it matters: doubling a $2.2 billion valuation to $4 billion in just over a year, on the back of $200 million in recurring revenue rather than a speculative model release, signals that investors see real staying power in AI that automates unglamorous, heavily regulated back-office work, not just headline-grabbing model companies.