❯ Rental-housing AI company EliseAI raises $350 million at a $4 billion valuation and takes the same system into clinics

Answering messages for landlordsEliseAI was founded in 2017 by Minna Song and Tony Stoyanov and sells AI software to apartment operators that automates administrative work such as tenant inquiries, lease management and tour scheduling. According to Crypto Briefing, its platform is used by one in six US apartments.

Over $200 million in annual revenueThe company passed $100 million in annual recurring revenue in 2025 and exceeded $200 million by the middle of this year. It has extended the same approach to healthcare providers, handling appointment scheduling and patient intake. In September it launched a new product called Apollo, described as a cross-platform AI tool.

Led by a16z and BessemerOn September 29, EliseAI announced a $350 million round at a $4 billion valuation, led by Andreessen Horowitz and Bessemer Venture Partners, with Ontario Teachers’ Pension Plan, Sapphire Ventures and Navitas Capital participating. According to AI Weekly, it was valued at $2.2 billion in August 2025. The money will go to new products, larger engineering and sales teams, and a second engineering hub in San Francisco.

The math is easy in a verticalProperty managers and clinics are buying saved front-desk labor: inquiries and scheduling are high-volume, rule-bound work. EliseAI’s valuation is under 20 times its annual recurring revenue and rests on revenue it already has. What it must show next is that an approach proven in rental housing sells just as well to healthcare providers.

▪ SIGNALIn the same week, a vertical AI company with revenue was priced at under 20 times sales and a general assistant with none at $10 billion, so capital’s tolerance for the two stories differs by an order of magnitude.