Exclusive: AI housing unicorn EliseAI hits $4 billion valuation in new funding round led by a16z and Bessemer

EliseAI, the artificial intelligence company that automates back-office work for landlords and health systems, has raised $350 million at a $4 billion valuation, the startup announced. The round was co-led by Andreessen Horowitz (a16z) and Bessemer Venture Partners, with new participation from Ontario Teachers’ Pension Plan and follow-on investments from Sapphire Ventures and Navitas Capital. The fresh financing — raised entirely as primary capital — nearly doubles EliseAI’s valuation from roughly $2.2 billion a year ago after a $250 million Series E.

“We’re bringing on our existing investors who wanted to co-lead — Andreessen Horowitz and Bessemer Ventures,” said Minna Song, founder and CEO of EliseAI. “They’ve really been up close and personal with our company over the last year and decided to double down on what we’re building.”

The company said the new financing will fund product development and expansion of its engineering, deployment and sales teams across North America. EliseAI plans to open a second engineering hub in San Francisco alongside its New York headquarters, a 109,000-square-foot office in Manhattan’s former Tiffany & Co. building on Fifth Avenue that the company moved into this summer.

• Funding: $350 million raised; valuation $4 billion.
• Lead investors: Andreessen Horowitz (a16z) and Bessemer Venture Partners; new investor Ontario Teachers’ Pension Plan.
• Other participants: Sapphire Ventures and Navitas Capital; round comprised entirely of primary capital.
• Business scale: platform now powers roughly one in six U.S. apartments; more than 30 million Americans have interacted with it.
• Financials: EliseAI surpassed $200 million in annual recurring revenue in June and reported its fifth consecutive year of revenue doubling year-over-year.

Song framed EliseAI’s growth around a contrarian strategy: targeting heavily regulated, low-margin sectors that have resisted automation — primarily property management and healthcare administration. The company’s software automates leasing, resident services, maintenance requests and lease renewals for landlords, and automates administrative workflows for health systems. Song said the firm’s expansion is driven by execution and deeper product penetration rather than a single market catalyst: “We’ve really expanded within the industries that we serve, housing and healthcare. We’ve delivered more and more products for them — increased the value that we’re bringing to our customers, and increased our penetration in the markets. Investors are seeing that.”

EliseAI also recently launched Apollo, a single AI agent designed to complete tasks across the Elise platform rather than operate as a narrow function. Song described Apollo as an “application layer” that recognizes what needs to happen and takes actions within granted permissions while leaving humans in place for judgment, nuance and the human touch.

The company positions its work as a response to mounting cost pressures in both sectors. Song cited research showing severe housing cost burdens for renter households earning under $30,000 — 66.5% of those households describe their burden as severe, and the median renter in the lowest income bracket pays 56% of monthly income toward rent — alongside data that national multifamily operating costs rose 9.3% in a single year through mid-2023. On the healthcare side, 41% of U.S. adults carry some form of medical debt, underscoring the potential downstream impact of lowering delivery costs.

Looking ahead, EliseAI plans to use the new capital to accelerate engineering and go-to-market investment, deepen product development around Apollo, and scale deployments across landlords and health systems in North America. With a claimed presence in roughly one-sixth of U.S. apartments and momentum in recurring revenue growth, the company aims to translate expanded automation into broader operational savings for landlords and care providers.