Technology and Science29 September, 20262 min read
EliseAI Raises $350M, Valued at $4B, Led by Andreessen Horowitz and Bessemer
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EliseAI raises $350M at a $4B valuation, led by a16z and Bessemer. Ontario Teachers’ Pension Plan joins as investor in round led by a16z and Bessemer.
EliseAI’s $350M round
EliseAI closed a $350 million funding round that valued the company at $4 billion, and the financing was led by Andreessen Horowitz and Bessemer Venture Partners. EliseAI reported $200 million in annual recurring revenue as of June 2026, and the company said the round capped five consecutive years of 100% year-over-year revenue growth. EliseAI said it plans to use the capital to automate more of the day-to-day work behind apartment operations and specialty healthcare practices, and it described Apollo as an agentic AI teammate that runs inside operators’ existing property management systems.
EliseAI said its housing product covers the full resident lifecycle, including leasing, resident communications and services, maintenance, billing, and renewals, and the company said its platform now powers one in six U.S. apartments. EliseAI said it has teams in Boston, Chicago, Austin, and Toronto, and it plans to build San Francisco into a second engineering hub alongside its New York headquarters.
Apollo and human safeguards
Minna Song told Fortune that EliseAI’s existing investors “decided to double down on what we’re building,” and she credited execution rather than any single catalyst for the valuation increase.
Song described Apollo as part of a shift in enterprise software, saying, “AI is a new application layer. Instead of having people navigate dozens of systems and workflows, the AI is just doing it for them.”
Song said Apollo includes safeguards for high-stakes decisions, and she emphasized that “Anything that ends in a binding decision such as approving or denying an application, sending a formal notice or signing off on a lease term, tasks like that still go through a person.”
Song also said Apollo “says so instead of guessing” when it does not have enough information to act with confidence, and she said Apollo only operates within the permissions granted by the person using it.
EliseAI said Apollo works end to end inside the EliseAI platform rather than handing work back to onsite staff, and the company said Apollo can complete any task on the EliseAI platform end to end.
Where the money goes
EliseAI said the new financing will fund product development and expand its engineering, deployment, and sales teams across North America, and it plans to open a second engineering hub in San Francisco alongside its New York headquarters. EliseAI said it moved into a 109,000-square-foot office in Manhattan’s former Tiffany & Co. building on Fifth Avenue, and it said it is hiring across New York, San Francisco, Boston, Chicago, Austin, and Toronto. EliseAI framed housing and healthcare as two of the largest household expenses in the U.S., and it argued that reducing operational costs in those sectors can have outsized economic impact.
EliseAI said renter households earning under $30,000 a year face the steepest housing cost burdens, and it cited a Congressional Research Service analysis of Census data that found 66.5% describe their housing cost burden as “severe.” EliseAI said national multifamily operating costs rose 9.3% in a single year through mid-2023, and it said the increase was driven largely by an 18.8% spike in insurance costs.