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

EliseAI raised $350 million at a $4 billion valuation, doubling what the AI startup was worth at its Series E round last August. Andreessen Horowitz and Bessemer Venture Partners co-led the new round.

Founded in 2017, EliseAI builds AI software that automates administrative and operational work for housing and healthcare companies. The company said its software is used by 1 in 6 apartments across the country, and it passed $200 million in annual recurring revenue this summer.

Earlier this month, EliseAI launched an AI “teammate” called Apollo that works inside the company’s existing 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.”

On the healthcare side, EliseAI automates patient-related paperwork for specialty physician groups, covering everything from the initial inbound call through referrals, scheduling, insurance verification, chart preparation, and follow-up. Song said the company targeted housing and healthcare specifically because they represent two of the largest expenses for American households.

Why it matters

Doubling its valuation while crossing $200 million in ARR signals investors expect AI automation to keep displacing manual back-office work in two of the largest and most fragmented service industries in the US.