EliseAI has raised $350 million at a $4 billion valuation, doubling the company's worth less than a year after its last funding round. The New York-based startup announced the round Tuesday.
Andreessen Horowitz and Bessemer Ventures co-led the raise. The company last raised a Series E in August 2024, when it was valued at $2 billion.
EliseAI builds software that automates administrative work for apartment operators and specialty physician groups. Founded in 2017, it says its tools are used in one in six apartments nationwide and that it passed $200 million in annual recurring revenue this summer.
The company entered healthcare by targeting the paperwork that clogs specialty practices. Co-founder and CEO Minna Song said the platform handles "from the first inbound call through referrals, scheduling, insurance verification, chart prep, and follow-up, so nothing falls through the cracks."
Earlier this month, EliseAI launched an AI "teammate" called Apollo that works inside its existing platform. Song said it is "built natively into the same platform that already runs leasing, maintenance, and renewals, so it can act across every role on a property team."
Song said the company picked housing and healthcare because they are two of the "largest expenses for American households." That focus puts EliseAI in direct competition with a growing field of startups selling AI agents to replace back-office staff, from property management tools to medical billing automation.
The new capital gives EliseAI room to expand Apollo across its customer base and push deeper into healthcare, where it competes for contracts with established vendors. The company has not said how it will spend the funds or whether it plans to hire.
The round lands amid heavy investor appetite for AI companies with real revenue. Doubling a valuation in under a year is rare outside the top tier of AI startups, and EliseAI's $200 million ARR figure gives it a metric that few enterprise AI firms can match.
