Proptech firm EliseAI raised $350M in its latest funding round as its influence in multifamily property management continues to grow.
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The funding round was led by Bessemer Venture Partners and Andreessen Horowitz, also known as a16z, with participation from Ontario Teachers' Pension Plan, Sapphire Ventures and Navitas Capital. EliseAI is now valued at $4B, almost double its valuation from August 2025 after a $250M funding round.
EliseAI will use the funding to automate more of its customers' operations and to grow its teams across its North American offices, the company announced in a press release. The company aims to establish San Francisco as an additional engineering hub alongside its New York City headquarters,
One in every six U.S. apartments uses the company's software, according to the release.
"Housing has enormous problems to solve, and we've grown by going deeper with our customers until we’ve solved the root causes," EliseAI CEO Minna Song said in a statement. "Every year our customers trust us with more of their operations."
EliseAI launched its "first agentic AI teammate," Apollo, earlier this month. The company says Apollo can perform any task on the platform. This includes work such as a leasing agent asking it to reschedule all tours for a colleague out sick or a maintenance tech asking which units have recurring issues.
The company has pitched its services to multifamily operators as a way of cutting costs through automation.
In a 262-page manual authored by EliseAI, the company details how firms can begin the process by automating administrative tasks, then leasing, and finally shrinking payroll by cutting jobs. The playbook also offers templates to help employers protect remaining employees from being scared by outsourcing job functions.
The manual claims savings are significant. It says AI can cut leasing and administrative hours by 40%, deliver 10% to 20% in payroll savings, and offer a 20% improvement year-over-year in net operating income.
“As rents remain flat and costs rise, there is increasing industrywide pressure to find innovative ways to increase NOI,” the playbook says. “Payroll is the budget category where operators have the most control to reduce expenses.”
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