EliseAI raises $350M at $4B valuation to expand AI for housing and healthcare admin

EliseAI, a startup that uses AI to automate administrative and operational work for the housing and healthcare industries, has raised $350 million at a $4 billion valuation, according to TechCrunch. The round, announced on Tuesday, was co-led by Andreessen Horowitz and Bessemer Ventures and values the company at twice the figure from its Series E, which closed in August of last year.

What the company does

Founded in 2017, EliseAI builds software that takes over routine workflows for property managers and healthcare providers. Co-founder and CEO Minna Song told TechCrunch the company picked these two verticals deliberately, because housing and healthcare are among the "largest expenses for American households."

On the housing side, EliseAI says its software is in use at one in six apartments across the United States. Over the summer the company also disclosed that it had passed $200 million in annual recurring revenue.

An AI teammate called Apollo

Earlier in September, EliseAI launched Apollo, an AI assistant designed to handle tasks inside its platform. Because Apollo is "built natively into the same platform that already runs leasing, maintenance, and renewals," Song told TechCrunch, "it can act across every role on a property team."

The healthcare product follows a similar pattern, automating the paperwork that surrounds a patient visit for specialty physician groups. Song described the scope as covering everything from the first inbound call through referrals, scheduling, insurance verification, chart preparation and follow-up.

Why it matters

EliseAI's raise is a marker of where AI venture capital is heading as the market matures: toward companies with measurable revenue in specific industries rather than general-purpose model developers. Crossing $200 million in annual recurring revenue while doubling its valuation to $4 billion in roughly a year — a valuation of about 20 times ARR — indicates that investors are still willing to pay premium multiples for applied AI with proven adoption.

The round also signals pressure on the incumbent software vendors that dominate property management and healthcare administration. If an AI-native platform can field leasing inquiries, coordinate maintenance and process insurance verifications end to end, the administrative layers these industries have run on for decades become a target for replacement. For renters and patients, the consequences cut both ways: faster responses and fewer dropped tasks on one hand, and more automated decision-making in two of the most sensitive areas of everyday life on the other.