EliseAI Hits $4B Valuation With $350M Series F Round

What happened

EliseAI, the New York-based company that builds AI agents for apartment operators and healthcare practices, announced on September 29, 2026 that it had raised $350 million at a $4 billion valuation.312 Existing backers Andreessen Horowitz and Bessemer Venture Partners co-led the round. Ontario Teachers' Pension Plan joined as a new investor, and Sapphire Ventures and Navitas Capital also participated.111 Bessemer partner Sameer Dholakia took a board seat as part of the deal.11

The new price nearly doubles the $2.2 billion valuation from EliseAI's $250 million Series E about 13 months earlier.1011 The company says it passed $200 million in annual recurring revenue in June and has doubled revenue year over year for five straight years.12

By one tally, the Series F brings EliseAI's total equity raised to roughly $742 million across seven rounds since a 2019 seed. A $30 million Bridge Bank credit line pushes total funding to about $772 million. The same tally shows the company raised small sums from real estate investors for its first five years. Its last three rounds account for $675 million, more than 90% of the total.9

What EliseAI does and where the money goes

The company was founded in 2017 and is led by CEO Minna Song.101 It positions itself as a vertical AI provider for housing and healthcare, two sectors it says make up nearly 40% of household spending.6 Its software handles leasing calls, maintenance scheduling and renewal paperwork. The company says it now touches roughly one in six U.S. apartments.101

The funding will pay for larger engineering, deployment and sales teams across EliseAI's North American offices. It will also establish San Francisco as a second engineering hub alongside New York.312 Earlier in September the company launched Apollo, an agentic "teammate" that it says can perform any task in its platform and see work through to completion within systems property teams already use.3 Song credited the valuation jump to a broader product lineup and deeper penetration in both markets.1

The healthcare side is gaining distribution. In October, specialty-practice software vendor Nextech said it would natively integrate EliseAI into its platforms. Clinics can choose EliseAI or Assort Health for AI-driven scheduling, intake and after-hours patient access.7 Hiring is also moving: a LinkedIn post cited by TipRanks says EliseAI has hired 209 people this year and is screening for candidates suited to high-stakes sectors.5 Built In listed 113 open roles, led by sales, customer success and engineering.6

Reading the round: momentum, with caveats

Most coverage treats the raise as straightforward validation. Reuters-syndicated reporting tied it to growing investor appetite for AI that automates industry-specific workflows.12 Multifamily trade coverage argued the numbers show AI has moved well beyond early leasing chatbots.2

Some analysts were more skeptical. One noted that Ontario Teachers' is the first public pension on the cap table. Investors of that type usually wait for more de-risked, IPO-adjacent rounds. The same analysis pointed out that this is the fourth consecutive check from a16z and Bessemer since 2023, and repeat insider leads involve less independent price discovery than a new outside lead would.411 Ontario Teachers' own disclosure says the round was entirely primary capital, with no secondary sales. That suggests existing holders are adding to their positions rather than cashing out.8

The sharper risks are competitive and reputational. At roughly 20 times ARR, the valuation depends on growth continuing, while incumbents RealPage and Entrata are shipping rival AI features into the same property-management accounts.4 Yahoo Finance coverage also adds AppFolio to that distribution fight.8 The same report cites a 262-page EliseAI playbook pitching operators on cutting leasing and admin hours by 40% and payroll by 10–20%. The playbook calls payroll the budget category operators can most easily reduce.8 That labor-displacement message is absent from the funding announcement. It could draw tenant, worker or regulatory pushback, and the stakes may be higher in healthcare, where staffing cuts face closer scrutiny.8

The takeaway

EliseAI has the revenue curve, product cadence and investor backing of a category leader, and the Series F gives it room to expand in both of its verticals. The real test of this round is less about the valuation and more about two questions. Can Apollo and integrations like Nextech's keep EliseAI ahead of well-entrenched incumbents? And will its efficiency pitch stay commercially persuasive without becoming a political liability? Insiders doubling down is a sign of confidence, but it is not yet proof that the outside market would set the same price.