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Alternative Assets  + Real Estate  + VC  |  June 8, 2023
Proptech Startup EliseAI Bags $35M for AI Platform
Joe Palmisano
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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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