EliseAI
AI leasing and resident-messaging assistant that plugs into property management software.
EliseAI is growing fast by sitting across every landlord's software instead of picking one, but the same PMS vendors it plugs into are now building their own AI to replace it.
EliseAI builds AI chatbots that help apartment complexes answer tenant questions and handle lease applications. The company works with five different property management software platforms (Yardi, RealPage, Entrata, AppFolio, and Buildium) instead of being locked into one, and it has its own data about how residents interact with apartments plus built-in Fair Housing compliance checks. Right now EliseAI is growing very fast at double the pace year over year, but the big property software companies are all releasing their own AI assistants that come built into their systems, and those rivals own the customer relationship and billing, which could let them bundle AI for free or cheap. The key question over the next year or so is whether EliseAI keeps growing fast even as competitors ship their tools, or whether customers using a single platform choose their software provider's AI instead. Also important: AI companies typically make thinner profits than regular software (45 to 65 percent margins instead of 80 to 90 percent), and EliseAI depends on OpenAI's technology, so if the company gets quiet about profit margins, that could signal the AI model is eating into profits.
Thoma Bravo or similar PE firm acquires Funnel Leasing or Zuma and bundles free AI with PMS. Would signal incumbent consolidation aimed at killing standalone AI leasing vendors.
A Fair Housing Act or AI-discrimination lawsuit is filed naming EliseAI. Would show the compliance moat has a real legal vulnerability, not just marketing.
- $200M ARR after 5 years of 100% YoY growth
- $250M Series E at $2.2B valuation
- 1 in 8 US apartments run on EliseAI
- PMS incumbents (Entrata, AppFolio, Yardi, RealPage) bundling native AI free into installed base.
- Fair Housing Act or AI-discrimination litigation targeting AI leasing tools industry-wide.
- Growth and ROI figures are largely self-reported customer case studies, not independently audited.
- Rapid headcount scaling (300 to 626 in under a year) creates integration and execution risk.
- Dependency on OpenAI's models for conversational layer amid AI-native margin pressure (45-65% vs 80-90% SaaS).
| Rival | Direction | Evidence |
|---|---|---|
| Funnel Leasing | contesting | Acquired LeaseHawk assets and partnered with Sierra AI, April 2025 |
| Entrata | contesting | Shipped native AI leasing assistant ELI+ into installed PMS base |
| AppFolio | contesting | Launched Realm-X AI feature for existing property manager customers |
| Yardi | contesting | Shipped Chat IQ AI feature within Voyager PMS platform |
| RealPage | contesting | PE-owned (Thoma Bravo, 2021) incumbent with Buildium, native AI bundling risk |
- Is EliseAI profitable in 2026?
- EliseAI has not disclosed profitability. It reports $200M ARR as of June 10, 2026, with five straight years of 100% YoY growth (company-claimed), but no public net income or margin figures have been released.
- Who owns EliseAI?
- EliseAI is privately held and venture-backed, no parent company. Investors include a16z, Bessemer, Sapphire Ventures, Navitas Capital and Point72, after a $250M Series E in August 2025 valued it at $2.2B.
- Could AI replace EliseAI?
- EliseAI's product IS AI automation for leasing and healthcare communications, so foundation models like OpenAI's feed it rather than replace it; OpenAI named EliseAI a trusted healthcare partner on April 3, 2026, reinforcing its integration layer over raw model output.
- Who is EliseAI's biggest competitor?
- Funnel Leasing is EliseAI's closest rival, having acquired LeaseHawk's assets and partnered with Sierra AI in April 2025. PMS incumbents Entrata, AppFolio, Yardi and RealPage have also shipped native AI leasing features contesting the same customers.
- How much funding has EliseAI raised?
- EliseAI has raised roughly $407M to $422M cumulatively as of April 20, 2026 (per Caplight), including a $250M Series E in August 2025 at a $2.2B valuation and a $75M Series D in August 2024 that made it a unicorn.
- What is EliseAI's market penetration in US housing?
- EliseAI claims its platform touches 1 in 6 US apartments as of June 10, 2026, up from 1 in 8 reported in April 2026, with 500+ housing operators including 75% of the top 50 multifamily owners on its platform (company-reported figures).
- 2026-06-11Zillow Rentals AI Assist partnership launched; claims 43% higher application rate
- 2026-06-10EliseAI hits $200M ARR after five straight years of 100% YoY growth
- 2026-04-03OpenAI names EliseAI a trusted partner for its healthcare product launch
- 2025-08-20Series E: $250M raised at $2.2B valuation, led by a16z
- 2025-04Funnel Leasing acquires LeaseHawk assets and partners with Sierra AI
- 2025-01EliseAI surpasses $100M ARR
- 2024-08Series D: $75M raised, EliseAI becomes unicorn (valuation over $1B)
- 2023-06Series C: $35M raised at roughly $285M post-money valuation, led by Point72
- 2017EliseAI founded by Minna Song and Tony Stoyanov as MeetElise
- EliseAI Hits $200M ARR (2026-06-10)
- Property management startup EliseAI nabs $250M at $2.2B valuation (2025-08-20)
- EliseAI becomes proptech unicorn with Sapphire-led $75M (2026-06-22)
- EliseAI Raises $35M Series C
- Valuation, Funding Rounds & Stock Price (2026-04-20)
- EliseAI Raises $250M Series E (2026-03-31)
- EliseAI 2026 Company Profile: Valuation, Funding & Investors
- EliseAI Company Growth, Stability & Outlook 2026 (2026-06-29)
- EliseAI Secures $250M Series E (2025-08-20)
- EliseAI - Headcount, Funding & Open Jobs (2026-07-08)
- OpenAI Names EliseAI as a Trusted Partner (2026-04-03)
- EliseAI and Zillow Rentals Find Renters Who Use AI Assist Are 43% More Likely to Apply (2026-06-11)