EliseAI vs. Funnel: Why It Matters For Every Renter and Operator
“We finally get tech that moves the needle, and now the kids are fighting.”
That line, from a multifamily operator, pretty much captures where the industry is right now. After years of proptech being full of point solutions and “nice-to-haves,” leasing and resident operations finally got software that genuinely changes outcomes: faster responses, fewer dropped leads, and teams that can scale without hiring like crazy. However, right as that became undeniable, two products at the center of the modern leasing workflow started overlapping: EliseAI and Funnel. The central point of contention is: Who owns the leasing workflow when AI becomes the interface?
How Both Companies Rose to Prominence
The leasing tech stack used to revolve around the PMS (property management system) because it was the system of record. Over the last few years, however, a small number of vendors became must-have systems inside large portfolios because they sat directly on the highest-leverage workflows: lead response, follow-up, touring, and conversion.
EliseAI positions itself as an agentic AI platform that can handle scheduling, answer questions, follow up with prospects, and support resident workflows.
Funnel became one of the dominant CRMs in multifamily, especially for operators moving toward centralized leasing and specialization.
Both are now in the critical path of leasing. Thus, the overlap question becomes existential.
The Old Paradigm: Clean Separation of Duties
For a long time, the integration story was simple:
The CRM organized pipeline, tasks, and team workflow
The AI layer handled top-of-funnel conversations, triage, and speed-to-lead
Operators got the upside of both: centralized management and automated responsiveness.
The New Paradigm: AI expands sideways into the CRM
Over the last 12 to 18 months, the line between “CRM” and “automation” has started disappearing.
EliseAI is pushing into CRM ownership
EliseCRM is explicitly positioned as an AI-first CRM for multifamily, designed to centralize prospect and resident interactions and run omnichannel communication across email, SMS, phone, and web chat. This is a big strategic step because it shifts Elise from “assistant” to the control plane.
Funnel is pushing into AI ownership with Fenix
Funnel launched Fenix, positioned as a standalone multifamily AI platform meant to transform the customer journey from prospect to resident. Funnel also says it acquired selected LeaseHawk assets, including call center technology, voice AI, call scoring, and self-service tools, and is re-platforming them inside Fenix.
Both companies are trying to win the same prize: own the workflow, own the data, own the outcome.
Why Now?
The interface is shifting from dashboards to agents
As AI takes on more work, the product that feels like the place where leasing happens becomes the winner. That is where the daily workflow lives. That is where switching costs form. That is where budget flows.
Operators want consolidation, not tool sprawl
Most portfolios are tired of stacks that look like this: PMS + CRM + chatbot + phone tool + scheduler + analytics layer + call tracking + inbox too. Consolidation lowers integration risk and forces accountability. That creates strong incentives for vendors to bundle across categories.
The winner gets credit for NOI outcomes
Speed-to-lead, show rate, conversion rate, and staffing efficiency are executive-level metrics. The vendor that ties itself to those outcomes becomes harder to displace.
Operators Are Stuck In The Middle
Most large operators are not looking to pick sides. They want systems that work together. When vendors overlap, the danger is not just competitive positioning. It is operational fragility:
Brittle integrations
Duplicated conversations
Broken scheduling flows
Inconsistent reporting
Whiplash from forced migrations
The worst case is that the renter experience becomes collateral damage while operators spend months rebuilding workflows.
AI Workflow Platform Will Become The Category
This is where we think its headed. The winning product will not be “a CRM” or “a leasing bot.” It will be an AI workflow platform that:
Captures inbound demand
Responds instantly
Routes and escalates intelligently
Records every interaction as the system of record
Closes the loop with reporting and outcome attribution
Elise is pulling the center of gravity toward AI-first operations with EliseCRM as the hub. Funnel is pulling toward CRM-first control with AI as a core execution layer via Fenix.
Where Iris Fits Into All Of This
This EliseAI vs. Funnel standoff is happening inside the operator stack. Nevertheless, there is a parallel truth on the renter side. Even the best ops stack in the world cannot fix the reality that renting in a city like San Francisco is chaotic, fast, and supply-constrained. That is why, at Iris, we care obsessively about the renter experience upstream of these vendors:
Surfacing the right inventory faster
Helping renters move decisively
Reducing scroll fatigue and dead-end inquiries
Making discovery feel less like a full-time job
Operator tools will keep evolving, and the vendor battles will come and go. Our sole job is to find you, the renter, a place you love and set you up for success. That is the layer we are building for.