EliseAI, a New York-based provider of automation technology for the housing and healthcare industries, secured a $350 million capital injection at a $4 billion valuation. Andreessen Horowitz and Bessemer Venture Partners led the round.
The company offers software to help property managers streamline leasing, resident management and operations. It also serves healthcare practices with tools for automating administrative tasks like patient intake and referrals. This raise comes as EliseAI has recorded significant traction within the housing industry. The company has achieved more than $200 million in annual recurring revenue and has helped reach over 30 million unique renters.
EliseAI’s goal is to ensure the benefits of AI reach as many people as possible, so it prioritizes automating facets of essential services industries. Across 6.5 million units served by its AI platform, EliseAI has noted an increase in resident occupancy and renewal tendencies, and that net operating income has risen substantially for property owners.
The company has built several AI capabilities for the housing industry, enabling self-learning, AI-guided tours and generation of certification documents for regulatory compliance. It plans to invest its latest capital injection in funding product development and expanding its team across engineering, deployment and sales, according to reporting by Fortune. EliseAI will also open a second engineering hub in San Francisco to complement its New York headquarters.
