To add my experience with this, since I've been around for two raises:
Raise 1: This was done on the Village side of the mist wall. The person was raised inside of a dungeon, and was able to return to their body. This was done with a Lesser Mist Orb. I don't know what level this person was.
Raise 2: This was done on the Vallaki side of the mist wall to someone who was level 13. They were ported to the Mist Camp.