Proptech artificial intelligence leasing software platform MeetElise has raised $23.5 million in a Series B round, the company announced on Thursday.
The round was led by Navitas Capital and JLL Spark with participation from AvalonBay Communities, Equity Residential, Cushman and Wakefield, Moving Capital, DivcoWest, RMS Investment Group and other partners.
MeetElise reported that the new funds will go toward hiring, product expansion and the company’s movement into adjacent verticals. In total, MeetElise has raised $32 million in funding.
“MeetElise’s superior technology and measurable customer benefits have resulted in tremendous growth, establishing the company as the leading enterprise AI startup for commercial real estate,” Travis Putnam, co-founder and managing partner of Navitas Capital, said in a statement. “Starting with leasing in the multifamily segment, MeetElise has an exciting vision to bring the benefits of conversational AI and automation across the entire commercial real estate industry.”
The proptech company was founded in 2017 by software engineers Minna Song (now CEO) and Tony Stoyanov (now chief technology officer). Today, it serves about 650,000 units throughout the U.S., working with small and medium businesses, as well as large property management companies like Greystar, Lincoln Property Company and Buzzuto Management. Elise, the company’s AI assistant, has made such strong inroads with renters, the company reports, that they’ve “even asked her out on dates or sent her gift cards for her hard work with helping them.”
The company also boasts that its sophisticated white-glove service through its AI tech is equal to that of a “high-quality leasing agent.” It allows prospective renters to move through the lead funnel and schedule unit tours without any human interaction. MeetElise has already started exploring other real estate verticals, and has now achieved 275 percent growth year over year.
“Our company mission is rooted in our passion for leaving the world substantially better than we found it,” Song said in a statement. “The housing industry needs more technology to solve problems like accessibility, experience and quality of housing. Automation is the only way to scale housing operations effectively.”