MeetElise, known best for their conversational multifamily leasing assistant, announced $23.5m in Series B funding today. Navitas Capital and JLL Spark co-led the round with participation from AvalonBay Communities, Equity Residential, Cushman and Wakefield, Moving Capital, DivcoWest, RMS Investment Group, and a host of other strategic partners. The Series B funding will drive a wave of growth through continued hiring, product expansion, and penetration into adjacent verticals. With this latest round of financing, MeetElise has raised a total of $32m, solidifying its position as a market leader.
Founded in 2017 by two software engineers, Minna Song and Tony Stoyanov, MeetElise has grown into the industry-leading solution for multifamily renter owners and operators. Serving 650K+ units across the US, MeetElise works with SMBs and large property management firms, such as Greystar, Lincoln Property Company, and Buzzuto Management. Customers point to tangible improvements in business metrics, including tour conversion rates, time savings, efficiency gains, and prospective renter satisfaction. Renters enjoy conversing with ‘Elise’ so much that they have even asked her out on dates or sent her gift cards for her hard work with helping them.
“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. 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,”- Travis Putnam, Co-Founder and Managing Partner of Navitas Capital.
In the past few years, the need for modern technology in the multifamily space has accelerated, especially for AI. Once seen as a nice-to-have, AI is now a necessary tool for multifamily communities to have in their arsenal if they want to capture prospective renter’s attention. With best-in-class natural language processing capabilities, MeetElise is the most sophisticated AI on the market allowing prospects to advance through the lead funnel and schedule tours with zero human intervention. Most importantly, ‘Elise’ consistently delivers top-notch customer service with 100% accurate responses 24 hours a day, 7 days a week. Every prospect experiences a white-glove service identical to a high-quality leasing agent. After achieving initial product-market fit within the enterprise clients, MeetElise has successfully begun expanding into other real estate verticals, achieving 275%+ YoY growth.
"Honestly, MeetElise has allowed us to be able to communicate with prospects 24/7 and ensure that no one falls through the cracks. With so many people working from home, people have weird schedules which makes it hard for them to talk to us during the day. [MeetElise]... is responding to leads faster than we could or our competitors. For my team, it’s like they have a partner in leasing." - Community Manager at Greystar
Across industries, the shift away from workflow tools and towards enterprise AI is just beginning. Within real estate, MeetElise is the de facto leader in developing an end-to-end AI-driven technology stack. As a beacon for top-tier product and engineering talent specializing in AI, MeetElise has exciting plans for future innovation and aims to lead the industry in developing automated solutions that create a best-in-class customer experience.
“Our company mission is rooted in our passion for leaving the world substantially better than we found it. 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.” - Minna Song, CEO of MeetElise
About MeetElise
MeetElise is the leading artificial intelligence-powered leasing software platform for real estate owners and operators. Through its unique natural language processing capabilities, MeetElise automatically generates accurate, timely, and quality responses to complex prospect inquiries. As a result, both renters and owners/operators benefit from a drastically improved real estate leasing and purchase experience.
Learn more at www.meetelise.com
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