a16z-backed EliseAI raises $350M, doubles valuation to $4B

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AI startup EliseAI announced on Tuesday that it has raised $350 million at a $4 billion valuation, double what it was worth when it raised its Series E last August.

This latest round was co-led by Andreessen Horowitz and Bessemer Ventures. EliseAI, founded in 2017, automates administrative and operational work for housing and healthcare companies. It said its software is used by 1 in 6 apartments across the country and announced this summer it passed $200 million in ARR. 

Earlier this month, Elise announced the launch of an AI “teammate” called Apollo that helps with tasks inside the EliseAI platform. “It’s built natively into the same platform that already runs leasing, maintenance, and renewals,” co-founder and CEO Minna Song told TechCrunch. “So it can act across every role on a property team.” 

EliseAI also helps automate the patient-related paperwork for specialty physician groups on the healthcare side, “from the first inbound call through referrals, scheduling, insurance verification, chart prep, and follow-up, so nothing falls through the cracks,” she said. The company has targeted housing and healthcare because they are two of the “largest expenses for American households,” she said.