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Credit: VentureBeat made with Midjourney

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According to VentureBeat's official website, real estate technology company EliseAI recently announced the successful completion of a $75 million Series D round of financing, led by well-known venture capital firm Sapphire Ventures. The newly raised funds will be mainly used to expand the team and promote product development. So far, EliseAI's valuation has exceeded $1 billion, making it the latest unicorn company in New York.

EliseAI was founded in 2017 by Minna Song and Tony Stoyanov, and has more than 130 employees at its New York headquarters. The company has developed a set of artificial intelligence (AI)-driven property management tools to improve communication efficiency between landlords, properties and tenants, helping property managers across the United States increase operational efficiency.

one,EliseAI promotes the digitization of property management, and its products cover 70% of rental property managers and owners in the United States

According to Minna Song, co-founder and CEO of EliseAI, the AI ​​assistant developed by the company has been widely used by rental property managers and owners across the United States, accounting for as much as 70%, which is equivalent to 1 in every 12 multi-family apartment units using the EliseAI system.

Multi-family housing units are residential properties that contain multiple individual dwellings within a single building, commonly found in apartment buildings and townhouses. This type of residential property is very common in the United States.

"We sell an AI assistant that can automate all kinds of property management matters," said Minna Song. "The AI ​​system can automatically complete about 90% of tenant communication work."

EliseAI’s annual recurring revenue (ARR) has grown more than 2.5 times since its Series C round last year. Its AI platform provides a variety of tools and services to support property management, including:

• LeasingAI: Manage potential customers around the clock, increase leasing conversion rate by more than 125%, and automate 90% of work.
• ResidentAI: Handle tenant communications, increase engagement by 40%, and reduce delinquent payments by 50%.
• EliseCRM: A free advanced CRM system that serves as a central hub for prospect and tenant information.

In addition, EliseAI's AI capabilities can be provided to users in a variety of ways, including email, text messages, web chat, and voice.

This is not just an AI product developed for the pursuit of technological advancement. These services can effectively reduce employment costs, reduce staff turnover and the risk of loss of knowledge assets, not only improving efficiency for enterprises, but also saving costs.

two,EliseAI expands into healthcare management, with products that can continuously automate multiple non-clinical tasks

In addition to maintaining its leading position in the real estate industry, EliseAI also introduces AI technology into the field of medical management.

The company's HealthAI product, launched in 2023, automates non-clinical tasks such as patient consultations, appointment scheduling, and billing. The HealthAI system strictly complies with HIPAA regulations, has SOC 2 security compliance, and is connected to the electronic medical record system (EMR).

“The system has a 95% success rate in answering patients’ questions and works 24/7,” Song added.

Conclusion: AI is reshaping traditional industries

After a long period of development, traditional industries have often formed stable and mature operating models, business processes and market strategies. However, under the wave of AI, the road to reform of traditional industries has quietly begun. At present, only a few technology companies focus on vertical fields in traditional industries, and the success of EliseAI has demonstrated the huge potential of AI to transform traditional industries: it can greatly improve industry operating efficiency and service quality.

Cathy Gao, partner at Sapphire Ventures and new board member of EliseAI, said: "EliseAI's multimodal AI platform has completely changed the customer interaction model in the real estate industry, and has also set a model for AI products in vertical fields in terms of achieving high accuracy and complying with industry compliance."

Source: VentureBeat