We are excited to announce our participation in EliseAI’s $200 million Series E round. Founded in 2017, Elise’s AI-powered tools use advanced natural language processing to automate communication in the residential real estate industry. Today, its customers, which include 28 of top 30 multifamily owners and operators across the United States, rely on EliseAI to automate up to 90% of their leasing maintenance and rent collection workflows, reducing labor costs, increasing conversion rates on leases, and helping lower rental delinquencies. More recently, Elise has also begun expanding its offerings to the healthcare industry.
The round, which was led by a16z with participation from Bessemer Venture Partners, Sapphire Partners, and our partners, Navitas Capital, brings EliseAI’s valuation to $2 billion.
EliseAI at a glance
When co-founders Minna Song and Stoyan Stoyanov launched EliseAI in 2017, their mission was to use technology to solve inefficiencies in essential industries. They began with residential real estate, where leasing teams and property managers face constant bottle necks in communication. They set out to build EliseAI to fix those issues by introducing AI-powered automation for leasing conversations and residential services. What began as a tool to automate leasing has since grown into a platform that powers the entire resident lifecycle, from tours and lease signings to maintenance requests, rent collection, and renewals.
Today, EliseAI touches 1 in every 12 apartment units in the US and works with 70% of the NMHC Top 50 owners, including GoldOller and Equity Residential. The platform has helped customers save millions of dollars in labor costs, increase leasing conversion rates and improve residential satisfaction.
A full suite of automation tools
EliseAI’s product suite is designed to streamline operations, cut costs, and deliver always-on resident experiences:
- EliseCRM unifies all communications, workflows, and tasks into a centralized system designed for portfolio-wide operations, with built-in AI tools for personalization, quoting, mass messaging, and campaign management.
- VoiceAI provides human-like voice automation in seven languages, handling leasing calls, maintenance requests, renewals, and payments 24/7, while integrating seamlessly with EliseCRM to ensure responsiveness and consistency.
- LeaseAudits leverages AI to quickly and accurately scan leases, detect billing errors, recover lost revenue, and ensure compliance, eliminating weeks of manual work and increasing transparency.
Together, these products enable property managers to reduce headcount, centralize operations and deliver better resident experiences.
Expanding into healthcare
Building on its success in real estate, EliseAI has recently expanded into healthcare, another sector where communication and administrative delays can directly impact outcomes. The company’s healthcare products automates patient conversations across voice, email, text, and chat, scheduling appointments against provider calendars to avoid overbooking and manages billing reminders and payments.
Healthcare providers using EliseAI are able to fully automate non-clinical tasks, reducing administrative burden, lowering costs, and improving both provider efficiency and patient satisfaction. Early customers span dermatology, women’s health. and specialty care practices.
Alpha’s partnership
Our investment in EliseAI reflects Alpha Partners’ strategy of teaming up with early investors to help category-defining companies scale. We’re proud to partner with Navitas Ventures, who identified EliseAI’s potential early on and backed the team through their growth journey. Their conviction in the company, combined with their deep expertise in technology and real estate, made them an invaluable partner and investor.
Why we are excited to back EliseAI
“EliseAI has emerged as the category leader in AI-powered property management, touching millions of units nationwide, including nearly all of the largest multifamily owners and operators,” says Alpha Partners Managing Partner Steve Brotman. “Its platform delivers an end-to-end automation layer across leasing, resident operations, collections, and maintenance. With high-profile distribution partnerships such as Zillow Rentals and early traction in the healthcare industry, EliseAI is well positioned to play in multiple multi-billion-dollar markets.”
Globally, there are an estimated 380 million rental units, representing a $350 billion total addressable market in residential real estate alone, highlighting the significant international expansion opportunities.
The company’s financial profile is equally compelling. EliseAI has grown recurring revenue at triple-digit rates over the past several years while maintaining capital efficiency and industry-leading retention. Having already surpassed $100 million in contracted revenue on less than $200 million raised, EliseAI has demonstrated exceptional operating leverage and a durable growth engine.
Looking forward, the opportunity for EliseAI is massive. With proven execution, durable market leadership, and a clear roadmap into procurement, management fees, and international expansion, we believe the company is well positioned to become the dominant global platform for AI-driven automation in real estate, healthcare, and beyond.
About Alpha Partners
Founded in 2013, Alpha Partners is a $400 million tech growth equity coinvestment firm writing $3-15 million checks. Instead of competing, our model is to partner with companies’ early investors and help them continue to bet on their winning portfolio companies by leveraging their access to new primary financings, and occasional secondaries. We have built a deep network of 1000+ investment firms that spans early, growth, and pre-IPO investors, and to date have deployed over $250 million into 36 companies with this strategy.
If you’d like to discuss collaborating with Alpha, please reach out to hello@alphapartners.com.
