Property management software startup Elise A.I. Technologies Corp. today announced that it has closed a $250 million late-stage funding round.

Andreessen Horowitz led the Series E investment with participation from Bessemer Venture Partners, Sapphire Ventures and Navitas Capital. The cash infusion comes a year after EliseAI’s previous raise. Reuters reported that the startup’s valuation has doubled to $2.2 billion.

EliseAI sells a cloud platform that real-estate companies use to manage rental properties. The platform is built around a customer relationship management system, EliseCRM, that makes it possible to centrally store tenant records. EliseAI also provides features for a range of related tasks.

The platform includes a tool that can analyze repair requests from tenants, display their urgency and route each ticket to the relevant technician. Maintenance teams access task details through a companion app. Besides displaying technical information about malfunctions, the app also measures the efficiency with which repairs are carried out and syncs its findings to EliseCRM.

Another tool, AI-Guided Tours, promises to help real-estate companies boost sales. It’s an artificial intelligence app that enables prospective tenants to tour a property without a human guide. The app displays details such as where to find the key and how to return it. 

According to EliseAI, AI-Guided Tours makes it possible to host property tours at times when sales professionals are not available. The result is that real-estate companies can engage more prospects than would otherwise be possible. Additionally, the app automates manual tasks such as following up with a potential tenant after a tour.

The company disclosed today that its platform is used across 10% of the U.S. apartment market. Its annual recurring revenue topped $100 million this year thanks largely to demand from real-estate companies.

EliseAI’s other major growth driver is the healthcare sector. In 2022, the company introduced a version of its platform geared towards clinics. The software can book appointments for patients, send prescription reminders and answer common questions. A data entry tool automates the task of entering patient information into clinics’ electronic health record systems. 

“We’ve built one of the largest vertical AI platforms in the world, already powering communication, coordination, and operations for some of the biggest housing providers in the country,” Chief Executive Officer Minna Song wrote in a blog post. “In healthcare, we’re applying the same AI infrastructure to solve similar challenges in access, staffing, and patient communication.”

The Series E round announced today will enable EliseAI to triple its headcount. The recruiting push is set to place particular emphasis on growing the company’s engineering team. EliseAI also plans to hire more customer experience, business operations, sales and marketing professionals. 

Image: EliseAI