EliseAI's $4B Bet on Boring Industries

🔥 What happened EliseAI raised $350M at a $4B valuation, nearly doubling its value in just 13 months. The round was co-led by a16z and Bessemer, with Ontario Teachers' Pension Plan joining. No secondary sales — pure primary capital. 💡 Why it matters The company's software automates leasing and resident services for landlords and reportedly powers one in six U.S. apartments, with 30M+ Americans having interacted with it. ARR crossed $200M in June, marking its fifth straight year of doubling revenue. Valuation jumped from $2.2B to $4B in about a year. ⚡ Our take While everyone chases horizontal AI tools, EliseAI is eating the boring, regulated niches. That's where thin margins and phone-based bureaucracy create the real moat — and the real returns.