EliseAI Doubles Valuation to $4B in $350M Funding Round Led by a16z and Bessemer

EliseAI, an artificial intelligence startup that streamlines back-office operations, announced Tuesday it has secured $350 million in funding at a $4 billion valuation. The round represents a doubling of the company's worth since its Series E fundraising last August. Andreessen Horowitz and Bessemer Ventures jointly led the investment.

Founded in 2017, EliseAI serves the housing and healthcare sectors by automating administrative and operational tasks. The platform powers operations at one in six apartments nationwide and crossed $200 million in annual recurring revenue this summer.

The company recently unveiled Apollo, an AI "teammate" designed to assist users within the EliseAI platform. According to co-founder and CEO Minna Song, "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."

On the healthcare front, EliseAI addresses the administrative burden facing specialty physician practices. Song explained that the system handles "from the first inbound call through referrals, scheduling, insurance verification, chart prep, and follow-up, so nothing falls through the cracks." The company has concentrated on housing and healthcare because both represent "two of the largest expenses for American households," she said.