Minna Song
New York EliseAI, a developer of so-called conversational artificial intelligence technologies, has announced the closure of a $75 million Series D funding round led by Sapphire Ventures, with participation from existing investors Navitas Capital, Steve Cohen’s Point72 Private Investments, DivcoWest Ventures and Koch Real Estate Investments.
Founded in 2017 by CEO Minna Song and chief technology officer Tony Stoyanov, the latest funding round raised EliseAI’s valuation past $1 billion, the company said. Initially known as MeetElise, the startup has raised $141.9 million from investors so far.
Ambitious Plans
EliseAI initially focused on building so-called AI agents or assistants that automate varied aspects of real estate operations, including housing tours and communications. After its previous funding round in 2023, it began to develop similar agents for use in healthcare, with plans to address other industry sectors.
“Essential industries like housing and healthcare are facing serious operational challenges and financial strain. Our mission to tackle these problems authentically resonates with everyone at our company,” said Song, who earned a bachelor’s degree in computer science from MIT.
Last year, EliseAI reached a user landmark of one million units, managed by customers such as Asset Living, Bozzuto and Venterra. It has since grown to 1.5 million. One in 12 multifamily apartment units in the United States use EliseAi’s products, such as LeasingAI, ResidentAI and EliseCRM, according to the company. Also, EliseAI said its annual recurring revenue has risen more than 2.5x since its Series C in 2023.
Industry Backing
“EliseAI’s multimodal AI platform has revolutionized customer interactions in the housing industry, we believe setting the standard for how purpose-built AI can deliver clear, measurable results with high accuracy and compliance to industry regulations,” said Cathy Gao of Sapphire Ventures, which has offices in Austin, Texas, London and San Francisco. Gao has joined EliseAI’s board.
“Partnering with EliseAI has transformed our community operations by boosting lead conversion and operational efficiency,” said Faith Duplantis, senior marketing manager at Asset Living. Its “suite of tools enhances daily operations and provides personalized lead nurturing, meeting the immediate needs of prospects and residents with their innovative AI, ensuring our ongoing success,” she added.
Since last year, EliseAI has rolled out HealthAI, which automates non-clinical tasks including patient conversations, appointment scheduling, and billing and payments. HealthAI can work alongside leading EHR, PMS and RCM solutions for healthcare firms.
