a16z-backed EliseAI raises $350 million and doubles its valuation to $4 billion.

AI startup EliseAI announced Tuesday that it has raised $350 million at a valuation of $4 billion, double its valuation when it raised its Series E last August.

The round was co-led by Andreessen Horowitz and Bessemer Ventures. Founded in 2017, EliseAI automates management and operational tasks for housing and healthcare companies. The company announced that its software is used in one in six apartments nationwide and that its ARR exceeded $200 million this summer.

Earlier this month, Elise announced the launch of an AI “teammate” called Apollo to help with the inner workings of the EliseAI platform. “It’s built natively on the same platform that already runs leasing, maintenance and renewals,” co-founder and CEO Minna Song told TechCrunch. “So it can work across all roles on the real estate team.”

EliseAI also helps automate patient-related paperwork for specialty physician groups on the medical side, “from the first inbound call through referrals, appointments, insurance verification, chart preparation and follow-up to ensure that nothing goes off without a hitch,” she said. The company targeted housing and health care because they are “the biggest expenses for American households,” she said.