From left: Minna Song and Stoyan Stoyanov of Elise AI.
Minna Song and Stoyan Stoyanov
Co-founder and CEO; co-founder and chief technology officer at EliseAI
Few startups have built their success as spectacularly as proptech unicorn EliseAI, a conversational AI communications platform for the housing industry.
Just last week, the firm announced a $350 million fundraise — bringing the value of EliseAI up to a healthy $4 billion.
“We were building AI before ChatGPT existed, and we haven’t slowed down since,” co-founder and CEO Minna Song said in a statement. “Our pace of innovation has doubled year-over-year, with new capabilities shipping weekly instead of quarterly. Every operator partnership, starting from our early days with AvalonBay, has shaped how we build. Customer insight has driven thousands of features and helped us solve property management at real scale.”
EliseAI claims that it is live in more than one in six U.S. apartments and collectively has helped over 30 million renters find a home, crossing $200 million in annual recurring revenue with five straight years of near-100 percent growth. The company’s voice AI alone handles 50 million calls a year, one of the largest real-world voice AI deployments in any industry.
The company’s “One AI” connects information and actions across a customer’s business, offering new net operating income opportunities that didn’t exist, and allows teams to spend less time on repetitive work and more time helping residents. For renters, it means faster answers and a more consistent experience across every interaction, Song said.
Such growth may be difficult to sustain as AI becomes more complex and competitive, but EliseAI has built a strong customer and funding foundation upon which it can build for the future.
In 2024, the startup announced that it raised $75 million in a Series D round, bringing its valuation to more than $1 billion. That made it one of proptech’s few unicorns — and certainly one of the few based out of New York City. In August 2025, EliseAI secured a $250 million Series E led by venture capital giant Andreessen Horowitz and surpassed $100 million in annual recurring revenue.
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