EliseAI has raised $350 million at a $4 billion valuation, roughly double the $2.2 billion it was worth 13 months earlier. The EliseAI funding round, announced on 29 September 2026, was co-led by Andreessen Horowitz and Bessemer Venture Partners. The company automates leasing and patient scheduling, mainly in the United States.
Who Put In the Money
The round brought in one new institutional backer alongside investors who have funded the company repeatedly. Andreessen Horowitz and Bessemer Venture Partners co-led it, the fourth time the pair have invested in EliseAI since 2023.
Ontario Teachers’ Pension Plan joined as a new investor, and the existing backers Sapphire Ventures and Navitas Capital also took part. Sameer Dholakia, a partner at Bessemer, is joining the board.
The company has not disclosed how much of the $350 million is primary capital going onto its balance sheet as opposed to purchases of existing shares, a split that often matters more than the headline figure.
What the $4 Billion Is Priced Against
EliseAI’s own figures put annual recurring revenue above $200 million as of June 2026, which places the valuation at roughly 20 times revenue. Annual recurring revenue is the yearly value of subscription contracts in force, not cash collected, and it is a company-reported measure rather than an audited one.
| Measure | Figure | As of |
|---|---|---|
| Valuation | $4 billion | 29 September 2026 |
| Previous valuation | $2.2 billion | Round about 13 months earlier |
| New capital raised | $350 million | 29 September 2026 |
| Annual recurring revenue | More than $200 million | June 2026 |
| Share of US apartments served | About 1 in 6 | Company statement, September 2026 |
| Calls handled monthly | About 5 million | Company statement, September 2026 |
The company says revenue has doubled year on year for five consecutive years, and that more than 30 million Americans have interacted with its systems since it was founded. Both are company claims, and the announcement states annual recurring revenue passed $200 million in June 2026. There is no audited filing to check them against, because EliseAI is privately held.
What the Software Actually Does
EliseAI sells automation for the administrative work around housing and medical appointments rather than tools that price or approve anything on their own. On the housing side it handles enquiries from prospective tenants, schedules viewings, answers questions about a building, logs maintenance requests and chases lease renewals.
Its healthcare business serves specialty physician groups and automates the sequence around an appointment: the first contact, referrals, scheduling, insurance verification, chart preparation and follow-up.
Minna Song, co-founder and chief executive, described the aim as removing navigation work rather than judgement. “Instead of having people navigate dozens of systems, the AI is just doing it for them,” she told Fortune, which reported the round as an exclusive before the company’s own announcement.
The volume is the point. About 5 million calls a month across both businesses is work that would otherwise sit with leasing agents and front-desk staff, which is why a leasing automation company reaching this scale is a labour story as much as a software one.
Where a Human Still Has to Decide
EliseAI says people remain involved in binding decisions and in fair housing matters, and in the United States that is not simply a design preference. The Fair Housing Act, the federal law that bars discrimination in housing, applies to automated and algorithmic tools just as it does to a human leasing agent.
The Department of Housing and Urban Development set that out in guidance in May 2024, which told housing providers that they remain responsible for the outcomes screening tools produce. A landlord who acts on an automated recommendation to reject an applicant is expected to make an independent assessment against its own published criteria rather than treat the tool’s output as the decision.
The federal rules underneath that are in flux. HUD proposed on 14 January 2026 to remove its regulations implementing disparate-impact liability under the Fair Housing Act, with the comment period closing on 13 February 2026. Disparate impact is the principle that a neutral-looking policy can still be unlawful if it falls more heavily on a protected group. The statute itself has not changed, and several states, California and New York among them, have been tightening their own rules on automated decision-making in parallel.
None of that is specific to EliseAI, and no enforcement action against the company has been reported. It is the regulatory ground any leasing automation vendor operating in the United States now stands on, and it explains why the division between what software does and what a person signs matters commercially.
Where the Money Is Going
The company says the capital will fund product work and hiring in engineering, deployment and sales across its North American offices. It is establishing San Francisco as a second engineering hub alongside its New York headquarters, and also has teams in Boston, Chicago, Austin and Toronto.
As of 1 October 2026, EliseAI has not published a headcount, a timetable for the hiring, a target for when it expects to be profitable, or any plan to raise again or list publicly.
Frequently Asked Questions
How Much Did EliseAI Raise and at What Valuation?
EliseAI raised $350 million at a $4 billion valuation, announced on 29 September 2026. That is roughly double the $2.2 billion valuation from its previous round about 13 months earlier.
Who Led the EliseAI Funding Round?
Andreessen Horowitz and Bessemer Venture Partners co-led it, their fourth investment in the company since 2023. Ontario Teachers’ Pension Plan joined as a new investor, with Sapphire Ventures and Navitas Capital also participating.
What Does EliseAI Do?
It automates administrative work in two industries. For landlords it handles leasing enquiries, viewings, maintenance requests and renewals; for specialty physician groups it automates scheduling, insurance verification, chart preparation and follow-up. Its customers are mainly in the United States.
How Much Revenue Does EliseAI Have?
The company reported annual recurring revenue above $200 million as of June 2026. EliseAI is privately held, so the figure is self-reported and not drawn from audited accounts.
Can AI Decide Who Gets an Apartment in the United States?
The Fair Housing Act applies to automated screening tools, and HUD guidance issued in May 2024 holds housing providers responsible for the outcomes those tools produce. A landlord is expected to make an independent assessment rather than treat an automated recommendation as the decision.
