AI startup EliseAI announced on Tuesday that it has raised $350 million. The new funding doubles its valuation to $4 billion compared to its Series E round last August.
Investors co-led the new funding round
Andreessen Horowitz and Bessemer Ventures co-led this latest investment round. EliseAI was founded in 2017 to automate administrative and operational tasks for companies in the housing and healthcare sectors.
Software automates housing and healthcare tasks
The company stated that its software is used by one in six apartments across the country. It also announced this summer that it passed $200 million in annual recurring revenue.
New Apollo teammate expands platform features
Earlier this month, Elise announced the launch of an artificial intelligence teammate named Apollo. The tool helps with tasks inside the existing EliseAI platform.
Co-founder and CEO Minna Song noted that Apollo is built natively into the platform running leasing, maintenance, and renewals. Song stated that the teammate acts across every role on a property team.
EliseAI also automates patient-related paperwork for specialty physician groups on the healthcare side. Song explained that the company targets housing and healthcare because they represent two of the largest expenses for American households.
