EliseAI raises $350M as Nuveen and Schroders merge

EliseAI, a housing and healthcare-focused AI company, has raised $350 million in a funding round that brings its valuation to $4 billion. The round was co-led by Andreessen Horowitz and Bessemer Venture Partners, with participation from Ontario Teachers’ Pension Plan, Sapphire Ventures, and Navitas Capital. The company, which reported over $200 million in annual recurring revenue, plans to use the capital for engineering, sales, and deployment, including establishing a second engineering hub in San Francisco.

In a separate major financial development, Nuveen has completed its acquisition of Schroders, creating a $2.6 trillion asset management firm. The deal concludes 220 years of family ownership for Schroders. The combined entity will maintain London as its non-US headquarters. Over the next 12 to 18 months, Schroders will operate separately within Nuveen, with Schroders CEO Richard Oldfield reporting to Nuveen CEO Bill Huffman. The merger aims to create a unified investment platform spanning public and private markets.