EliseAI Secures $75M Series D Funding and Expands to Healthcare

EliseAI, a company focused on developing AI-powered property management tools, has successfully raised $75 million in a Series D round, valuing the startup at $1 billion.

Founded in 2017 by Minna Song and Tony Stoyanov, EliseAI employs an array of chatbots to automate communication with renters for tasks such as apartment tours, maintenance requests, lease renewals, and delinquencies, enhancing operational efficiency for property managers. The company's technology, which solely relies on internally-generated data, has drawn some criticism concerning the nuance of its AI chatbots. However, Minna Song asserts that the chatbots continuously improve their ability to anticipate renter needs, leading to a significant increase in lease tour bookings and a decrease in overdue payments.

With the latest funding, EliseAI intends to further expand into the healthcare market, building on the success of its AI platform in the housing industry. The company's HealthAI solution, launched in 2023, has already garnered interest from several healthcare providers.

The funding round was led by Sapphire Ventures, with participation from Point72 Private Investments, Divco West, Navitas Capital, and Koch Real Estate Investments. The capital will be used to strengthen the company's workforce, invest in AI R&D, product development, and support its go-to-market efforts.