EliseAI Raises $350 Million at $4 Billion Valuation

EliseAI has raised $350 million at a $4 billion valuation, the company announced on September 29, 2026. Andreessen Horowitz (a16z) and Bessemer Venture Partners led the financing, with participation from Ontario Teachers' Pension Plan, Sapphire Ventures, and Navitas Capital.

The round lands less than 14 months after EliseAI's $250 million Series E in August 2025, which a16z also led. Bessemer partner Sameer Dholakia joined EliseAI's board as part of the new financing. Dholakia said the company has spent years working inside the operational complexity of housing and pairs AI research and engineering with granular knowledge of property operations — a combination he credited with producing measurable results for customers.

What does the money fund?

According to the announcement, the capital will go toward:

• Automating a larger share of its customers' operations
• Expanding engineering, deployment, and sales staff across North American offices
• Accelerating development and delivery of new products
• Establishing San Francisco as a second engineering hub alongside the New York headquarters

The company is hiring across all functions in New York, San Francisco, Boston, Chicago, Austin, and Toronto.

How big is EliseAI now?

The company passed $200 million in annual recurring revenue in June 2026, marking five consecutive years of 100% year-over-year growth. Its platform now powers one in six U.S. apartments, and more than 30 million Americans have interacted with EliseAI since its founding, the company said.

The trajectory has been steep. EliseAI raised a $75 million Series D in August 2024. Between that round and the Series E, headcount grew from 150 to more than 300 full-time employees. The company surpassed $100 million in ARR earlier in 2025, and as of August 2025 it supported more than 600 owners and operators, including 75% of NMHC's Top 50 Operators.

a16z partner Alex Immerman, who joined EliseAI's board with the Series E, wrote in an August 2025 post that the company — co-founded by Minna Song and Tony Stoyanov — had become the go-to AI product for housing, covering more than 10% of the U.S. apartment market at the time and growing at more than double year over year. His post cited customer results including Scion, which saved $1.3 million in seven months by replacing call centers with EliseAI's VoiceAI product.

What is Apollo, the AI teammate?

On September 3, 2026, EliseAI introduced Apollo, its first agentic AI teammate — a single AI agent able to perform any task in the Elise platform. The company said Apollo is built natively into the platform rather than operating as a separate tool, and that it takes on each user's exact permissions, so it can only see and do what that person is already authorized for.

Use cases range from the routine to the diagnostic. A leasing agent can tell Apollo to move every tour booked for a colleague who is out sick. A maintenance technician can ask which units keep having problems. Song said at the launch that Apollo "tells you what to do next, and then does it." EliseAI plans to extend the approach across housing operations, targeting problems it said the industry has faced for decades.

Why healthcare?

A dedicated healthcare business within EliseAI serves specialty physician groups, automating the patient journey from the first inbound call through referrals, scheduling, insurance verification, chart preparation, and follow-up. The company is applying the playbook it built in housing to healthcare, where it said administrative work pulls clinical staff away from patients.

The announcement frames the logic: housing and healthcare are the two largest expenses for American households and two of the industries technology has served least — both running on thin margins, heavy regulation, and administrative workloads. Song said in August 2025 that the two sectors represent approximately 40% of household spending for an average American. The company has cited U.S. healthcare administrative costs exceeding $600 billion annually, and states that its platform cuts overhead by up to 25% for healthcare practices.

Song said the most attention in AI is still not going to the industries where the technology matters most. She said EliseAI has grown by going deeper with customers until the root causes of their problems are solved, and she called a16z and Bessemer "the partners the company wants for the long term."

The bet from investors is that an AI company embedding itself in two of the economy's largest, least-digitized cost centers can keep compounding at triple-digit growth — and that the $4 billion valuation prices in a healthcare business still early in its buildout.