EliseAI raises $350m at a $4bn valuation for AI that runs housing and healthcare front offices

EliseAI said on 29 September that it had raised $350 million at a $4 billion valuation, in a round led by Andreessen Horowitz and Bessemer Venture Partners. The release does not name the series.

The company sells AI that handles customer operations for apartment operators and healthcare providers. Its release says the platform “now powers one in six U.S. apartments, and more than 30 million Americans have interacted with EliseAI since its founding”, and it repeats an annual recurring revenue figure of more than $200 million that the company first announced in June. All of these are EliseAI's own figures.

The money is for automating more of its customers' operations and for expanding engineering, deployment and sales. Co-founder and chief executive Minna Song framed the round around neglected industries: “The industries where AI matters most are still not the ones getting the most attention.”

The contrast with yesterday's story is useful. Instinct raised $1bn for a personal agent with no user numbers published; EliseAI raised a third of that with revenue and reach stated. For investors, it is a reminder that a lot of agent adoption is happening through software sold to one industry at a time, doing unglamorous work.

• Claimed $350m raised at a $4bn valuation, led by Andreessen Horowitz and Bessemer Venture Partners. EliseAI via GlobeNewswire
• Claimed More than $200m in annual recurring revenue (first announced in June) and used in one in six U.S. apartments. EliseAI via GlobeNewswire