AI Chatbots Streamline Rental Communications Securing EliseAI $75 Million Investment

Property managers dealing with daily rental inquiries just got a major assist thanks to a latest funding round secured by AI startup EliseAI. The company has developed an innovative suite of chatbots designed to efficiently handle common communications between landlords and tenants.

EliseAI announced this week that it has raised $75 million in Series D funding led by venture capital firm Sapphire Ventures. This round values the four-year old startup at an impressive $1 billion. Founded by CEO Minna Song while she was still an undergraduate, EliseAI got its start after Song noticed the drain on resources caused by mundane rental inquiries during an internship at a real estate firm.

Equipped with natural language processing skills, EliseAI’s collection of chatbots have since taken on a significant workload for hundreds of property management clients. The bots field questions via text, email and phone on items such as apartment tours, maintenance requests, lease renewals and payment issues. Conversations are carefully reviewed to ensure any complex matters requiring human assistance are promptly escalated.

With privacy and security top of mind, EliseAI relies solely on internal data for their AI training. Customers retain full control and ownership of tenant information as well. The new funding will help expand the company’s research into new verticals like healthcare, where similar efficiencies could be found.

For rental housing operators already leveraging EliseAI’s tech stack, returns have been impressive. On average, chatbot use boosts tour bookings 125% while reducing overdue rents by 50%. With big names like Navitas Capital and Koch Real Estate backing its success, EliseAI is poised to become the leading platform automating frontline real estate operations through conversational AI.