EliseAI Raises $250M in Series E - InforCapital

EliseAI, a leading AI company focused on automating complex healthcare and housing systems, has successfully secured a $250 million Series E funding round. The financing was led by Andreessen Horowitz, with participation from new investor Bessemer Venture Partners and existing stakeholders Sapphire Ventures and Navitas Capital.

The fresh capital will be used to rapidly expand EliseAI's team to speed up product innovation and increase its footprint in the industry. The company is currently on a hiring spree across multiple departments including engineering, customer experience, sales and marketing, and strategy and operations. It's also looking to grow its office hubs in New York, San Francisco, Boston, and Chicago.

EliseAI is rooted in the conviction that AI can significantly enhance how critical sectors operate. As Co-Founder and CEO Minna Song points out, healthcare and housing account for approximately 40% of household spending for an average American. Yet, these systems are notoriously complicated, outdated, and difficult to navigate. EliseAI aims to rectify this with AI-driven solutions, enhancing efficiency, and reducing costs in these vital industries.

Since its $75 million Series D round in August 2024, EliseAI has doubled its full-time employees from 150 to over 300 and launched new AI-powered products across both verticals. The company also achieved a milestone of $100 million in Annual Recurring Revenue (ARR) earlier this year.

With a focus on healthcare, EliseAI is addressing one of the most expensive challenges of the system: front-desk and call center operations. In the U.S., healthcare administrative costs exceed $600 billion annually due to excessive manual tasks and limited technology investment. EliseAI's automation platform handles complex healthcare workflows, including multi-step scheduling and prior authorizations, while also capturing nuanced patient concerns accurately, compliantly, and empathetically. This approach helps practices reduce overheads by up to 25%, cut wait times, and lower the number of abandoned calls, thus keeping both staff and patients satisfied.

EliseAI is also making strides in the housing sector, helping operators navigate rising costs, labor shortages, and high workforce turnover, which can surpass 40% annually. Its platform includes new products such as AI-Guided Tours, Lease Audits, the Fee Transparency Suite, and the Maintenance App. These tools enable property managers to streamline operations and enhance resident experiences. The company currently supports over 600 owners and operators, including 75% of NMHC's Top 50 Operators.

Alex Immerman, partner at a16z Growth, expressed excitement about EliseAI's potential, describing it as one of the most exciting software solutions in the industry.