Exclusive: AI housing unicorn EliseAI hits $4 billion valuation in new funding round led by a16z and Bessemer

EliseAI has pulled in $350 million in fresh funding and says the round values the company at $4 billion, almost twice what it was worth a little over a year ago. The money came from a group led by Andreessen Horowitz and Bessemer Venture Partners, with Ontario Teachers’ Pension Plan joining as a new backer and Sapphire Ventures and Navitas Capital also participating. According to CEO and co-founder Minna Song, the deal was all primary capital, and nearly all of the company’s major existing investors came back in.

That repeat backing matters. This is the fourth time EliseAI has raised from a16z and Bessemer since 2023, and it comes about 13 months after a $250 million Series E that priced the company at $2.2 billion. Song’s take on the jump is refreshingly unromantic: the company kept shipping, kept selling, and kept moving deeper into the markets it already serves. Housing and healthcare may not be the loudest corners of the AI boom, but they are the ones EliseAI has chosen to attack.

The pitch is built around dull, expensive work that never seems to end. EliseAI automates leasing, resident service, maintenance requests, and lease renewals for landlords, and it also runs a healthcare product that handles the patient journey from inbound calls and referrals through scheduling, insurance verification, chart prep, and follow-up. The company says its software now powers roughly one in six apartments in the United States, and that more than 30 million Americans have interacted with it. It also says annual recurring revenue passed $200 million in June.

The new capital is meant to push product development and expand engineering, deployment, and sales across North America. EliseAI also plans to open a second engineering hub in San Francisco, alongside its New York headquarters in Manhattan’s former Tiffany & Co. building, which it moved into this summer. That’s a lot of money aimed at a simple idea: if AI can make housing and healthcare cheaper to operate, it can matter far more than another tool for people already sitting at a desk.

Song says the company is not rushing toward a public listing. Instead, EliseAI is leaning harder into Apollo, its new AI agent that can handle tasks across the platform while still passing binding decisions and other sensitive steps to humans. The company says it handles roughly 5 million calls a month across housing and healthcare, and it has also been testing OpenAI’s voice technology at scale. That is a very Silicon Valley sentence, only pointed at rent notices and patient calls instead of the usual parade of productivity demos.