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A16z-backed EliseAI raises $350M, doubles valuation to $4B
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EliseAI has raised $350 million at a $4 billion valuation, double the value of its Series E last August. Andreessen Horowitz and Bessemer Ventures co-led the round. Founded in 2017, the company automates administrative and operational work for housing and healthcare businesses. The deal highlights investor interest in applied AI.
EliseAI focuses on housing and healthcare, two of the “largest expenses for American households,” Song said. Its platform supports leasing, maintenance and renewals, while assisting specialty physician groups with patient paperwork. The breadth makes it a multi-industry operations provider rather than a single-purpose tool.
The company said its software is used in one of every six apartments nationwide. It also announced this summer that annual recurring revenue had passed $200 million. Those figures indicate substantial adoption, although EliseAI did not disclose the new round’s structure.
Earlier this month, EliseAI launched Apollo, an AI “teammate” built into the platform running leasing, maintenance and renewals. Song said Apollo can act across every role on a property team. Native embedding could make AI assistance available without moving work into a separate system.
In healthcare, EliseAI automates paperwork from the first inbound call through referrals, scheduling, insurance verification, chart preparation and follow-up. Song said the system helps ensure nothing “falls through the cracks.” The company is betting that native automation can make routine work more consistent.
Apollo’s launch and the $200 million ARR milestone coincide with EliseAI’s rise to a $4 billion valuation. The announcement gave no use-of-proceeds plan, growth targets or profitability details. Its next test will be expanding adoption while meeting the reliability needs of housing and healthcare customers.
