EliseAI funding: Every round, investor, and valuation (2026)

EliseAI builds AI agents that run the front desk. In housing, they answer prospective renters, book tours, chase late rent, log maintenance requests, and handle renewals for apartment operators. In healthcare, the same technology answers patient calls, schedules appointments, checks insurance, and processes referrals for specialty medical practices.

EliseAI has raised $741.9 million in equity across seven rounds since its 2019 seed, plus a revolving credit line from Bridge Bank. Its latest round, a Series F co-led by Andreessen Horowitz and Bessemer Venture Partners in September 2026, valued the company at $4 billion.

The cap table started with customers. Two of the largest apartment owners in the US, AvalonBay and Equity Residential, invested in the company's earliest rounds, years before growth funds such as Andreessen Horowitz arrived. Let's dive into EliseAI's funding history.

EliseAI spent its first five years raising small rounds from real estate investors. Then the checks grew quickly: the last three rounds brought in $675 million, more than 90% of everything the company has raised.

Minna Song and Tony Stoyanov founded the company in 2017 as MeetElise. Song runs the company as CEO and Stoyanov as CTO. Their first product was a virtual leasing agent named Elise that answered renter emails, texts, and calls around the clock.

The seed in 2019 was led by Golden Seeds, an angel network that backs women-led companies. The more telling names were the landlords. AvalonBay and Equity Residential were early users of the leasing agent, and both put money into the seed and the Series A.

Navitas Capital, a venture firm that invests only in real estate and construction technology, led the Series A in July 2020. At the time, the software handled communications for more than 250,000 apartment homes. The Series B in December 2021 added JLL Spark, the venture arm of the commercial real estate firm JLL, and Cushman & Wakefield, another of the large property services firms.

In August 2022, Bridge Bank gave the company a $15 million line of credit tied to its recurring revenue. This kind of facility lends against subscription income, so the company could borrow without selling more shares. The bank doubled it to $30 million in December 2023.

Point72, the investment firm founded by Steve Cohen, led the $35 million Series C in June 2023, and Point72's Eddie Kang joined the board. Koch Real Estate Investments, part of Koch Industries' investment group, came in as a new backer. The same year, the company launched its healthcare product and began selling to medical practices.

Sapphire Ventures led the $75 million Series D in August 2024, which made EliseAI a unicorn. By then, more than 350 housing customers covering over 2 million apartments used its software, including 70% of the 50 largest US apartment operators.

Andreessen Horowitz led the Series E a year later. Growth partner Alex Immerman joined the board, and Bessemer Venture Partners invested for the first time. Reuters reported that the money would go mainly toward expanding in healthcare.

The housing side had grown in the meantime. At the Series E, EliseAI said it worked with more than 600 operators and covered about 10% of US apartments, and its staff had doubled in a year.

The Series F followed 13 months later. In August 2026, reports had the company in talks to raise $300 million at $3.7 billion. The round closed larger. Bessemer moved up to co-lead, its partner Sameer Dholakia joined the board, and Ontario Teachers' Pension Plan, one of Canada's largest pension funds, joined the cap table.

EliseAI did not disclose a valuation for its first four equity rounds. Once it did, the price roughly doubled with each round.

The Series E priced the company at a little more than twice the Series D, and the Series F added another 1.8 times. Each step took about a year. The company called its Series D price "in excess of $1 billion," and Reuters later put it at about $1.1 billion.

Unlike many AI companies at this price, EliseAI discloses revenue. It passed $100 million in annual recurring revenue (ARR), the yearly value of its subscriptions, in early 2025. It reached $200 million in June 2026, after what the company calls five straight years of doubling.

Research firm Sacra estimates ARR at about $37 million at the end of 2023 and about $75 million a year later, which fits the company's growth claim. Those figures are estimates, not company disclosures.

That puts the Series F at about 20 times ARR. Rich, but closer to a software multiple than to the prices paid for frontier labs or newer AI startups that reach unicorn status in months. EliseAI took seven years to reach a billion-dollar valuation.

A useful comparison is Decagon's customer service agents, which sell a similar promise to a broader market. EliseAI's case rests on depth in two narrow industries rather than breadth across many.

EliseAI's investors fall into three groups: real estate investors and landlords that backed it early, growth firms that led the large rounds, and a pension fund that arrived last.

Andreessen Horowitz led the Series E and co-led the Series F, and Alex Immerman sits on the board. The firm's case for the deal leaned on customer results. It cited Equity Residential cutting headcount by 15% and reaching 200 units per staff member, and Scion Group, a student housing operator, saving $1.3 million in seven months.

The pitch fits a broader bet the firm has made on AI that replaces labor costs rather than software budgets. Its healthcare portfolio is part of the same thesis, as Hippocratic AI's patient-call agents show.

Bessemer joined in the Series E and co-led the Series F. Partner Sameer Dholakia, a former CEO of the email company SendGrid, took a board seat in September 2026.

Bessemer has described EliseAI as a vertical operations company rather than a chatbot vendor. The firm points to the fact that EliseAI fine-tunes open-source models and owns its voice pipeline instead of reselling another company's product.

Sapphire Ventures, the growth fund that spun out of SAP, led the Series D and returned in both later rounds. Point72 led the Series C, took a board seat, and joined the Series D.

Navitas Capital has been in every priced round since the seed. It led the Series A and co-led the Series B.

The real estate names explain how the company sold its first product. AvalonBay and Equity Residential, two of the largest apartment REITs in the US, invested early and used the software across their buildings. JLL Spark, Cushman & Wakefield, DivcoWest, and Koch Real Estate Investments followed.

Those investors gave EliseAI access to large property portfolios and a reference list that other operators trusted. Its named customers now include Greystar, the largest apartment manager in the US, plus Asset Living, Bozzuto, and Scion Group.

Ontario Teachers' Pension Plan joined in the Series F. It is the first public pension fund on the cap table.

EliseAI spends its funding on people and product. It has not reported a single acquisition, and it trains on open-source models rather than building its own from scratch.

Headcount is the largest use of the money. The company had about 150 employees at the Series D and more than 300 a year later at the Series E. The Series F will pay for more engineering, deployment, and sales staff.

EliseAI is headquartered in New York, with offices in Boston, Chicago, Austin, Toronto, and San Francisco. The Series F release named San Francisco as a planned second engineering hub.

The rest goes into products that cover more of a building's operations. After the Series D, EliseAI added AI-guided tours, lease audits, a fee transparency suite, and a maintenance app. Over half of its housing customers use three or more products, according to research firm Sacra.

In September 2026, it launched Apollo, an agent that can run any task across the EliseAI platform. Apollo works inside the property management systems operators already use, which matters because those systems are sold by the companies EliseAI competes with.

The company prices on a per-apartment, per-month basis under annual contracts. That ties revenue to the number of units under management, a market described in our property management industry statistics, where AI use among managers rose from 21% to 34% between 2024 and 2025.

Healthcare is the second business and the main target of the last two rounds. EliseAI sells to specialty practices in women's health, dermatology, ophthalmology, and orthopedics, groups that run many clinics and field a steady stream of scheduling calls.

Its named customers include Women's Health Connecticut, Kansas City Skin & Cancer Center, Dermatology Partners, and Center for Sight. These are physician groups rather than hospital systems, a narrower and faster sale than the hospital contracts most healthcare AI companies chase.

The product covers calls, referrals, scheduling, insurance verification, chart preparation, and follow-up, work that sits close to the billing cycle described in our medical billing industry statistics. The company says AI fully handles nine in ten of those calls. In January 2026, OpenAI's healthcare push named EliseAI a partner for patient-facing voice AI.

Most of that work happens by phone. EliseAI built its own voice pipeline rather than licensing one from specialists such as ElevenLabs' voice AI business, which gives it control over a product that handles about 5 million calls a month.

EliseAI's growth plan has two tracks. In housing, it already counts about 75% of the 50 largest US apartment operators as customers and says it reaches one in six US apartments, so growth depends on selling more products to each landlord. In healthcare, it is still early, and the company has not split out how much revenue the segment brings in. It competes there with patient communication vendors such as Luma Health, Phreesia, and Hyro.

The product bet is Apollo. If one agent can run leasing, maintenance, renewals, and reporting across a portfolio, EliseAI's per-unit price can rise without new customers. That is what the Series F is paying for: engineers to build Apollo and deployment teams to install it.

The company has no announced IPO plans, and Song has described it as built for the long term. The risks are competitive and legal. RealPage, Entrata, AppFolio, and Yardi sell the systems landlords run on, and each is building its own AI agents. HUD guidance from 2024 applies fair housing law to AI tools, and lawsuits over AI leasing chatbots have targeted other firms in the sector, so a single discrimination claim could slow sales to the operators EliseAI depends on.

EliseAI has raised $741.9 million in equity across seven rounds, from a $1.9 million seed in 2019 to a $350 million Series F in September 2026. It also has a $30 million revolving credit line from Bridge Bank, which brings total funding to about $772 million.

EliseAI's lead investors are Andreessen Horowitz, Bessemer Venture Partners, Sapphire Ventures, Point72, Navitas Capital, and Golden Seeds. Other backers include Ontario Teachers' Pension Plan, JLL Spark, DivcoWest, Koch Real Estate Investments, Cushman & Wakefield, and apartment owners AvalonBay and Equity Residential.

EliseAI was valued at $4 billion in its September 2026 Series F. That is up from more than $2.2 billion in August 2025 and more than $1 billion in August 2024.

No. EliseAI is private and has not filed for an IPO. Its shares are not traded on any stock exchange.

EliseAI is owned by its founders, employees, and investors. Co-founders Minna Song (CEO) and Tony Stoyanov (CTO) run the company. The largest outside holders are likely Andreessen Horowitz, Bessemer, Sapphire Ventures, and Navitas Capital, though exact stakes are not public.