EliseAI raises $350M at a $4B valuation for housing and healthcare automation

EliseAI has raised $350 million at a $4 billion valuation to expand software that handles administrative work for housing operators and specialty physician groups. The company announced the financing on September 29; Andreessen Horowitz and Bessemer Venture Partners led it, with Ontario Teachers’ Pension Plan, Sapphire Ventures and Navitas Capital participating.

A housing team can use EliseAI from the first leasing inquiry through move-in, service requests and renewal. The new Apollo agent works across those functions rather than answering only one kind of request. EliseAI says users set its permissions, while staff retain decisions such as approving an application, issuing a formal notice or signing off on lease terms.

Specialty medical practices use a parallel workflow. The software answers incoming patient calls, assembles referral and insurance information, prepares charts, books appointments and follows up, allowing office staff to manage the exceptions. In the disclosed workflow, the automation is administrative rather than diagnostic.

EliseAI says its platform now touches roughly one in six apartments in the United States and has interacted with more than 30 million Americans since the company was founded. The company also says it handles about 5 million calls a month across housing and healthcare, and that annual recurring revenue passed $200 million in June after doubling for a fifth consecutive year.

The $4 billion valuation is nearly twice the $2.2 billion mark attached to EliseAI’s $250 million Series E about 13 months ago. Fortune reported, citing CEO Minna Song, that the new financing consists entirely of primary capital. That means the round funds the company instead of selling existing holders’ shares.

EliseAI plans to spend the new capital on product development and larger engineering, deployment and sales teams across North America. It also intends to establish San Francisco as its second engineering hub alongside New York. Sameer Dholakia of Bessemer joined the company’s board as part of the financing.