New York-based AI software company EliseAI has raised $350 million at a $4 billion valuation as it expands its AI agent platform across housing and healthcare.

The round was led by Andreessen Horowitz and Bessemer Venture Partners, with participation from Ontario Teachers' Pension Plan, Sapphire Ventures and Navitas Capital. Ontario Teachers' is a new investor, while most of EliseAI's major existing backers also returned for the round.

EliseAI says the new capital will support product development and the expansion of its engineering, deployment and sales teams across North America.

From a Real Estate Bottleneck to a $4B AI Company

EliseAI was founded in 2017 by Minna Song and Tony Stoyanov. Song serves as co-founder and CEO, while Stoyanov is co-founder and CTO.

The company's origins came from Song's experience working at a New York real estate company before EliseAI was built.

Rather than starting with a broad AI thesis, Song and Stoyanov focused on a specific operational problem inside the housing industry: the enormous amount of repetitive work required to manage properties, communicate with residents and process leasing activity.

That initial focus eventually became EliseAI's AI-powered software platform.

Nine years after its founding, the company says its technology now powers operations across one in six US apartments and handles approximately 5 million calls every month.

The company has also expanded beyond housing into healthcare, applying a similar automation approach to administrative and operational workflows.

Valuation Has Quadrupled Since 2024

EliseAI's latest financing represents another major jump in its private-market valuation.

The company became a unicorn in August 2024 after raising a $75 million Series D led by Sapphire Ventures at a $1 billion valuation.

A year later, EliseAI raised a $250 million Series E led by Andreessen Horowitz at a $2.2 billion valuation.

The latest $350 million round now values the company at $4 billion.

That represents nearly a doubling in valuation from the company's 2025 financing.

The latest round also came in above an earlier reported target. In August 2026, reports indicated that EliseAI was discussing a $300 million raise at a valuation of approximately $3.7 billion. The final transaction exceeded both figures.

Behind the valuation is significant recurring revenue growth.

EliseAI said in June 2026 that it had crossed $200 million in annual recurring revenue. The company also reported that its revenue had doubled year over year for five consecutive years.

At a $4 billion valuation, the latest valuation is roughly 20 times the previously disclosed $200 million ARR figure, although the actual current revenue multiple could be lower as the company has continued to grow since that June figure.

AI Agents Move Beyond Chatbots

EliseAI's platform is increasingly focused on AI agents that can perform operational work rather than simply generate responses.

Its housing platform automates areas including leasing, resident communications, maintenance, renewals and billing.

The company's newest product, Apollo, was launched in September 2026.

Apollo is positioned as an AI teammate capable of carrying out tasks across the EliseAI platform from start to completion.

That is a meaningful shift from conventional chatbot functionality.

Instead of simply responding to a resident's question or helping an employee find information, an agent can potentially execute a workflow inside the software environment.

This approach reflects the broader movement toward agentic AI, where AI systems are expected to interact with business software and perform multi-step operational tasks.

For property managers, that could mean automating large volumes of administrative work that traditionally requires employees to move between property-management systems, communication channels and internal processes.

Healthcare Becomes the Second Major Market

EliseAI entered healthcare in 2023, bringing its automation approach into another industry with significant administrative workloads.

The healthcare business focuses on specialty physician groups and handles workflows including inbound calls, referrals, appointment scheduling, insurance verification, chart preparation and follow-up.

The company is also working with OpenAI to test new voice capabilities at scale, according to Song.

Healthcare provides a different operating environment from residential property management, but the underlying problem is similar: large volumes of repetitive communication and administrative processes that consume staff time.

EliseAI's expansion therefore gives the company a second major market in which to deploy its AI agents.

The healthcare AI agent market is also becoming increasingly competitive. Prosper AI, for example, raised $30 million in June 2026 to develop AI agents for appointment scheduling and insurance verification.

A Different Strategy From Other PropTech Companies

EliseAI's approach differs from several other companies attempting to reshape property management.

Rather than buying property-management businesses or replacing the entire software infrastructure used by landlords and operators, EliseAI integrates into the systems that property teams already use.

The platform operates alongside established property-management software providers such as Yardi, RealPage and AppFolio.

That creates an important strategic distinction.

EliseAI is attempting to become an AI automation layer on top of existing property-management workflows rather than replacing the underlying systems themselves.

Other startups are taking different approaches.

Lette AI is developing an AI operating system for property managers, while UK-based Dwelly has pursued a model that combines property-management technology with the acquisition of independent letting agencies.

Flow, launched by former WeWork CEO Adam Neumann, has taken another route by owning residential real estate rather than primarily selling software to property operators.

EliseAI remains focused on the software and automation layer.

Backed by Major Investors

The latest financing brings several major investors together around EliseAI's expansion.

Andreessen Horowitz and Bessemer Venture Partners led the round, while Ontario Teachers' Pension Plan, Sapphire Ventures and Navitas Capital also participated.

Bessemer partner Sameer Dholakia joined EliseAI's board as part of the financing.

For Bessemer, the investment adds another large AI company to a portfolio that spans multiple stages of company development.

The firm has also recently closed $5.75 billion across two new funds.

Scaling Across North America

EliseAI plans to use the new capital to expand its product development and grow its engineering, deployment and sales teams.

The company is also establishing San Francisco as a second engineering hub alongside its New York headquarters.

EliseAI's New York office is a 109,000-square-foot location in the former Tiffany & Co. building on Fifth Avenue, which the company moved into in 2026.

The company is hiring across New York, San Francisco, Boston, Chicago, Austin and Toronto.

That expansion comes as EliseAI attempts to deepen its presence in housing while scaling its healthcare operations.

The Bigger Question

EliseAI's growth illustrates a broader shift in enterprise AI.

The company is no longer positioning AI simply as a tool for answering questions or generating content. Its platform is increasingly designed to execute operational workflows across industries.

That creates a much larger potential role for AI, but also raises more complicated questions around oversight.

In housing and healthcare, AI systems can interact with customers, process information and initiate operational actions. As those systems take on more responsibility, maintaining human checkpoints and ensuring reliable execution becomes increasingly important.

EliseAI's scale gives it a substantial base from which to test this model.

With approximately 5 million calls handled each month, coverage across one in six US apartments and more than $200 million in previously disclosed ARR, the company is now moving from an AI software startup into a much larger operational platform.

The next stage will show whether its agent-based approach can successfully expand from housing into healthcare while maintaining the reliability required for increasingly consequential workflows.