EliseAI – a premier conversational AI platform for real estate – announced its $35 million Series C fundraising round led by Point72 Private Investments with participation from Koch Real Estate Investments and existing investors Golden Seeds, Navitas Capital, JLL Spark, and DivcoWest. In connection with the investment, Eddie Kang, who leads growth-stage investment activities for Point72 Private Investments, joins EliseAI’s board of directors.
Launched in 2017, EliseAI has become the largest and most sophisticated AI platform serving the multifamily and single-family rental housing industry, the largest commercial real estate asset class in the U.S. And the company’s products automate conversations between potential and current renters and apartment buildings via SMS, email, phone, and webchat and automate workflows through integrations with key software systems. The company currently serves 1.5 million units across 200 customers, including leading owners and operators such as Asset Living, Bozzuto, and Venterra.
This funding round comes amidst a long-term shift towards rental housing in the US, which was underpinned by a growing population, increasing migration to urban areas, and rising home prices. And as rental housing serves increasingly young and tech-adept populations, there is a higher expectation for seamless tech-enabled experiences.
EliseAI has driven accelerated adoption of tech-enabled experiences across the real estate industry and will use the funding for continued product development. And the company also plans to expand into new verticals, such as healthcare.
KEY QUOTES:
“We started this company with the vision of using the most advanced technology to transform the industries fundamental to our lives. We are incredibly proud of the change we have driven in the real estate industry over the last 6 years. We are thrilled to bring on new partners to enable us to continue to innovate and push into new markets.”
— Minna Song, Co-Founder and CEO of EliseAI
“We are incredibly excited to be partnering with EliseAI for the next step of their journey. We believe they have the right team, experience, and technology to bring cutting-edge conversational AI to the real estate industry and unlock a new era of business efficiency.”
— Eddie Kang, partner at Point72 Private Investments
