EliseAI said Tuesday it has raised $350 million at a $4 billion valuation, doubling the worth it held when it closed its Series E last August. The round was co-led by Andreessen Horowitz and Bessemer Ventures.
The startup, founded in 2017, builds software that automates administrative and operational work for housing and healthcare companies. It said its tools are used by one in six apartments in the United States. This summer, the company said it crossed $200 million in annual recurring revenue.
Earlier this month, EliseAI announced an AI "teammate" called Apollo that handles tasks inside the EliseAI platform. Co-founder and CEO Minna Song described Apollo as built natively into the same system that manages leasing, maintenance and renewals, allowing it to act across every role on a property team.
On the healthcare side, EliseAI automates patient-related paperwork for specialty physician groups. Song said the software covers the process from the first inbound call through referrals, scheduling, insurance verification, chart preparation and follow-up so that steps are not missed.
Song said the company chose housing and healthcare because they represent two of the largest expenses for American households. Those costs put the startup's automation efforts in front of a broad base of US renters and patients who interact with property managers and physician offices.
The new funding follows a period in which EliseAI expanded its product lineup and reported growing adoption of its platform. Andreessen Horowitz and Bessemer Ventures led the round, with the deal reflecting the company's doubled valuation since last August.
EliseAI's software runs leasing, maintenance and renewal workflows for apartment operators and handles patient paperwork for specialty physician groups. The company said its platform is embedded in a significant share of US apartments and has moved past $200 million in ARR.
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