EliseAI, a startup specializing in AI-driven property management solutions for landlords, has successfully secured $75 million in a Series D funding round, valuing the company at $1 billion.
EliseAI was founded by Minna Song and Tony Stoyanov, who met as undergraduates at Cambridge University. Song, inspired by inefficiencies in the real estate industry, developed AI software to streamline communication processes, leading to the establishment of EliseAI in 2017.
EliseAI utilizes chatbots to engage with renters regarding various property-related inquiries, enhancing operational efficiency for property managers. The chatbots are designed to handle routine tasks and escalate complex issues to human operators when necessary.
EliseAI emphasizes data privacy, allowing users to control their data, opt-out of AI training, and request data deletion in compliance with data protection laws like the California Consumer Privacy Act.
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EliseAI plans to expand into the healthcare market by adapting its technology to address administrative needs in health clinics, such as appointment scheduling and billing.
The company has raised a total of $140 million, with plans to invest in hiring, AI research and development, product enhancement, and market expansion, backed by investors like Sapphire Ventures, Point72 Private Investments, Divco West, Navitas Capital, and Koch Real Estate Investments.
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Sapphire partner Cathy Gao will join the board of directors at EliseAI, recognizing the company’s potential for growth and innovation in various industries beyond real estate.
