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Alternative Assets  + Real Estate  + VC  |  June 8, 2023
Proptech Startup EliseAI Bags $35M for AI Platform
By: Joe Palmisano

Proptech Startup EliseAI Bags $35M for AI Platform 

Point72 Private Investments led a $35 million Series C funding round for New York-based conversational AI real estate platform EliseAI. Point72 also appointed one of its growth-stage managers Eddie Kang to the board. 

Koch Real Estate Investments and existing investors Golden Seeds, Navitas Capital, JLL Spark, and DivcoWest also participated in the fundraise. 

Founded in 2017 and led by CEO Minna Song, the startup serves the multifamily and single-family rental housing sector through AI-focused conversations between potential and current renters and apartment buildings through SMS, email, phone and webchat. 

“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,” noted Song. 

The company serves 1.5 million units across 200 customers, including property management firm Asset Living, property manager, developer and homebuilder Bozzuto, and real estate developer Venterra. 

The firm last raised funds in July 2021 with $23.5 million Series B funding from DivcoWest, Navitas Capital and Puget Sound Venture Club. In July 2020, it fetched $6.5 million in a Series A from Navitas, Equity Residential and AvalonBay Communities. 

Last month, EliseAI announced a partnership with single-family rental owner Sparrow, to expand its AI solutions. Terms of the deal were not disclosed. 

Connect with Nexpoint Advisors, L.P. Chief Market Strategist Mike Hurley, CMT by joining us at the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center. 

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EliseAI

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.