EliseAI Raises $350 Million at $4 Billion, Doubling Its 2025 Price
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EliseAI Raises $350 Million at $4 Billion, Doubling Its 2025 Price
The leasing and patient-intake automation company is priced at about 20 times the annual recurring revenue it reported in June, and two outlets disagree on the valuation it is doubling.
EliseAI raised $350 million at a $4 billion valuation on Sept. 29, in a round led by Andreessen Horowitz and Bessemer Venture Partners, TechCrunch reported. The headline says the valuation doubled. Whether it did depends on which outlet you read, and that gap is the first thing worth fixing.
TechCrunch says the prior round, a Series E in August 2025, valued the company at $2 billion. AI Weekly, which cites Fortune, puts that round at $2.2 billion and labels the new $4 billion as post-money. Against $2.2 billion the step-up is 1.8 times, not 2 times. Neither outlet says whether the earlier figure was pre-money or post-money, so the comparison may be mixing bases.
| Round | Date | Valuation | Source |
|---|---|---|---|
| Series E | Aug. 2025 | $2 billion | TechCrunch |
| Series E | Aug. 2025 | $2.2 billion | AI Weekly |
| This round | Sept. 29, 2026 | $4 billion, post-money | AI Weekly |
- Series E, Aug. 20252.2 $ billions
- Sept. 29, 20264 $ billions
Source: AI Weekly citing Fortune, accessed 2026-10-06; TechCrunch gives $2 billion for the prior round
What 20 times ARR means
EliseAI's blog carries a June 10, 2026 post headlined "EliseAI Hits $200M ARR After Five Consecutive Years of 100% Growth Across Housing and Healthcare". ARR is annual recurring revenue, the yearly value of current subscriptions. Divide $4 billion by $200 million and the multiple is 20. That is on a June figure, so the true multiple on today's revenue is lower by however much the company has grown since, and the company has not published that.
A $350 million cheque against a $4 billion post-money price sells 8.75 percent of the company. For a company that says it has doubled revenue for five straight years, that is a small slice, and it is a price a growth-stage buyer would pay if the doubling continues. The growth claim is the company's own and I found no independent check.
What Apollo and the usage numbers cover
TechCrunch reports EliseAI introduced Apollo, an AI "teammate" built into its platform. Chief Executive Minna Song said it "can act across every role on a property team." The company, founded in 2017, says its software runs in one in six US apartments and handles about 5 million calls a month across housing and specialty physician groups, a figure AI Weekly attributes to Song.
In the TechCrunch account, the healthcare product automates patient paperwork "from the first inbound call through referrals, scheduling, insurance verification, chart prep, and follow-up." No source breaks ARR out between the two, so the $200 million cannot be split into a housing multiple and a healthcare multiple.
Comparables on this site
Two other recent rounds give a sense of how differently the market is pricing agent companies. Factory's $200 million extension at $5 billion has a public fight over its investors attached, and Type One Energy's $200 million Series B is capital for a 400-megawatt fusion plant, not software. EliseAI is the one with a disclosed revenue figure.
The number to watch is the next ARR announcement. If EliseAI reports a figure near $300 million, the 20 times shrinks to about 13; if it stays near $200 million, the August 2025 doubling was a price rise rather than a revenue one.
Sources
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