Minna Song and Stoyan Stoyanov

Few proptech startups have grown as impressively as EliseAI, a conversational artificial intelligence communications platform for the housing industry.

In 2024, the startup announced that it raised $75 million in a Series D round, bringing its valuation to more than $1 billion as the latest New York City unicorn.

Since then, EliseAI’s momentum has continued. In August 2025, co-founders Minna Song and Stoyan Stoyanov secured a $250 million Series E led by Andreessen Horowitz and surpassed $100 million in annual recurring revenue. EliseAI now operates in some 10 percent of U.S. apartments, according to the company.

Using AI to automate housing and health care systems’ workflows and operations, EliseAI has garnered a large client list and venture capital funding that dwarfs the vast majority of proptech startups. The company works with 600 owners and operators, including 75 percent of the ​​National Multifamily Housing Council’s top 50 property managers, among them Asset Living, the Scion Group, Equity Residential and Brookfield Properties.

“Our AI automates more than 90 percent of communication with renters across all communication channels, including email, text message, voice and web chat,” Song told Commercial Observer in announcing the company’s Series D raise and unicorn status in 2024. “It handles everything from apartment searches and tours, to maintenance requests and lease renewals. This allows renters to receive immediate assistance and helps properties increase capacity.”

In 2025, EliseAI partnered with Zillow Rentals to launch AI Assist, the first built-in leasing assistant embedded directly within the Zillow Rentals marketplace. The company was also listed on Thomvest Ventures’ Top 50 AI Startups in Real Estate, the first ever list by the San Francisco-based group of investment companies that make investments on behalf of billionaire Peter J. Thomson and his family.