EliseAI, the Manhattan-based startup that automates leasing and maintenance requests for apartment landlords, said Tuesday it had raised $350 million in new funding at a $4 billion valuation — more than double the $2 billion mark it set in an August 2025 round. The round was co-led by Andreessen Horowitz and Bessemer Venture Partners, with the Ontario Teachers' Pension Plan, Sapphire Ventures and Navitas Capital also participating.
The company says its software now handles some part of the resident lifecycle — leasing inquiries, maintenance dispatch, billing and lease renewals — for roughly one in six apartments in the United States, and that more than 30 million Americans have interacted with it in some form. EliseAI reported more than $200 million in annual recurring revenue as of June, and says it has doubled revenue year over year for five straight years running.
Property teams spend far too much of their day on repetitive admin work.
Minna Song, co-founder and CEO, EliseAI
Founded in 2017, EliseAI built its business automating the unglamorous back office of residential property management before extending the same playbook into healthcare, where its software now handles the first inbound call for some specialty physician groups — routing referrals, scheduling appointments, verifying insurance and preparing charts ahead of a visit.
The company is using the new capital to expand its engineering, deployment and sales teams across New York, Boston, Chicago, Austin and Toronto, and plans to open a second engineering hub in San Francisco. It is also leaning further into agentic AI: earlier this month the company launched Apollo, a feature that lets property staff carry out tasks inside their existing management software using plain-language commands rather than manual clicks.
The raise lands EliseAI among a handful of "vertical AI" startups — companies applying AI agents to a single industry's back-office grind rather than building general-purpose tools — that have posted outsized valuation jumps this year as investors look past the broader pullback in speculative tech funding for businesses that can point to real, recurring enterprise revenue. Property management has proven a particularly deep well for that pitch: multifamily landlords field a constant stream of routine calls and maintenance tickets that are expensive to staff around the clock but relatively straightforward to hand to software, which is part of why EliseAI's revenue has kept compounding even as many of its AI-startup peers struggle to move past pilot deployments.
