EliseAI, an artificial intelligence platform for the housing industry, has raised $75 million in a Series D round at a company valuation in excess of $1 billion, giving it unicorn status. Sapphire Ventures led the funding round, with participation from existing investors Navitas Capital, Point72 Private Investments, DivcoWest Venture, and Koch Real Estate Investments.

The company, founded in 2017 by Minna Song and Tony Stoyanov, has been a leader in automating the housing sector through AI and expanded into the health care sector in 2023. EliseAI is touted as the largest AI-native company in the housing sector, serving millions of rental units. Its complete platform automates property workflows and communications with renters throughout their entire journey. For health care, it serves a number of leading providers with its HealthAI platform to automate patient conversations, appointment scheduling, and billing and payments.

According to the company, it will use the proceeds from the raise to continue to expand its team, invest in continued product innovation, and build its portfolio of industry partnerships that enable it to work effectively with other products and systems.

“Essential industries like housing and health care are facing serious operational challenges and financial strain. Our mission to tackle these problems authentically resonates with everyone at our company. We are committed to improving how these industries operate, making them more sustainable and accessible,” said CEO Song. “We are excited to partner with the Sapphire Ventures team given their track record of working with B2B software companies to achieve extraordinary success.”

The funding comes at a time when the company has seen accelerating growth and momentum, including:

  • Annual recurring revenue growth of more than 2.5 times since its Series C round last year;
  • Partnerships with almost three-quarters of the top 50 multifamily owners and operators and leading single-family rental companies; and
  • Being active in 1 out of every 12 multifamily units in the nation.

“EliseAI’s multimodal AI platform has revolutionized customer interactions in the housing industry, we believe setting the standard for how purpose-built AI can deliver clear, measurable results with high accuracy and compliance to industry regulations,” said Cathy Gao, partner at Sapphire Ventures and a new EliseAI board member. “I am thrilled to partner with Minna, Tony, and their team as they continue to transform the housing industry and tackle other core industries like health care.”