Valon Raises $150 Million at $2.3 Billion Valuation

Valon Technologies raised a $150 million Series D at a $2.3 billion post money valuation, according to Forbes. The round received backing from firms including Ribbit Capital and Andreessen Horowitz (a16z).

Valon builds software that uses AI to automate mortgage servicing tasks, including payment tracking, tax and insurance management, and responses to borrower questions. Its customers include Newrez and ServiceMac, which service 4 million and 1 million homeowners respectively.

The company sold its servicing portfolio of about 800,000 loans to Carrington Mortgage in August as it shifted its focus to selling software to mortgage servicers. Carrington, which manages $200 billion in balances, also became a ValonOS customer.