Valon raises $150M Series D at $2.3B valuation

Valon Technologies raised $150 million in a Series D round at a $2.3 billion valuation, the company announced on Monday.The round doubles its prior valuation and brings in new investor Ribbit Capital, alongside existing backer Andreessen Horowitz and other prior investors. The capital will go toward product development and hiring across engineering, product, deployment and go-to-market roles based in New York and San Francisco, along with remote positions. Valon positions itself as an AI-native operating system for regulated finance, with an initial focus on mortgage servicing. The company said it has more than $200 million in contracted annual recurring revenue for ValonOS and is under contract to power servicing for roughly one in six outstanding U.S. mortgages. Founded in 2019, Valon initially built and operated a fully licensed national servicer on its in-house platform — Valon Mortgage — to prove the technology could support the complexity of government and private-label servicing at scale. The capital raise comes two months after Carrington Mortgage Services completed the acquisition of Valon Mortgage, a deal first announced in May. The transaction added about 810,000 loans t...