a16z-backed EliseAI raises $350M, doubles valuation to $4B
EliseAI raises $350M, doubles valuation in a year.
AI startup EliseAI has announced the raising of $350 million in funding, bringing its valuation to an impressive $4 billion, double its worth from a year ago. The Series E round was co-led by venture capital firms Andreessen Horowitz and Bessemer Ventures.
Founded in 2017, EliseAI specializes in automating administrative and operational tasks for housing and healthcare companies. Its software is reportedly used by one in six apartments across the country, with the company reporting $200 million in annual recurring revenue earlier this summer.
Earlier this month, EliseAI unveiled an AI "teammate" called Apollo, designed to assist with tasks within its own platform. The tool, co-founder and CEO Minna Song explained, is built directly into the existing system that handles leasing, maintenance, and renewals, allowing it to operate across various roles within a property team.
EliseAI extends its capabilities to the healthcare sector as well, automating patient-related paperwork for specialty physician groups. This includes assistance from the initial call through referrals, scheduling, insurance verification, chart preparation, and follow-up, ensuring no details slip through the cracks. The company has concentrated on the housing and healthcare industries due to their status as two of the most significant household expenses in the United States.
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- EliseAI banks $350M, hits $4B valuation for accelerated new product development fiercehealthcare.com
