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EliseAI Raises $350M at $4B Valuation for Housing and Healthcare AI
a16z and Bessemer lead as the company behind software in one in six U.S. apartments doubles its valuation in a year.
EliseAI has raised $350 million at a $4 billion valuation, double the $2 billion it was worth in August 2025. Andreessen Horowitz and Bessemer Venture Partners led the round.
The company, led by co-founder and CEO Minna Song, builds AI that handles the administrative work behind housing and healthcare operations.
From Leasing to Exam Rooms
EliseAI started in property management, automating the back-and-forth of leasing: tour scheduling, applicant questions, maintenance requests and renewals. It says its software is now used across one in six U.S. apartments.
The company has since pushed into healthcare, automating patient paperwork for specialty physician groups.
Its newer product, an AI teammate called Apollo, is built into the same platform rather than sold alongside it. "It's built natively into the same platform that already runs leasing, maintenance, and renewals," Song said. "So it can act across every role on a property team."
Revenue Behind the Valuation
EliseAI announced annual recurring revenue above $200 million in the summer of 2026, a figure that helps explain a valuation doubling in roughly a year.
TechCrunch reported the raise and the new valuation.
Why Housing and Healthcare
Song has framed the choice of markets around household budgets: housing and healthcare are two of the largest expenses American families carry, and both run on administrative processes that are slow, manual and expensive to staff.
Property management companies operate on thin margins with high leasing-agent turnover. Physician practices face the same problem with front-office staff. Both are environments where software that answers questions and fills out forms has an obvious payback.
Why It Matters
Vertical AI companies have been among the fastest to reach real revenue, because they sell against a labor line item rather than a vague productivity promise.
EliseAI's expansion into healthcare is the harder test. Property management has few regulatory constraints on automated communication. Patient-facing workflows carry privacy rules and clinical risk that make the same playbook slower to run.
Source
TechCrunch — "a16z-backed EliseAI raises $350M, doubles valuation to $4B"