Valon lands $150M Series D to put AI agents into mortgage servicing
What's the deal? Valon, an AI-native operating system for regulated finance, has raised $150 million in a Series D round at US$1.49B valuation. New investor Ribbit Capital led the way, joined by existing backer Andreessen Horowitz. The valuation doubles Valon's previous mark.
What's the endgame? Founded in 2019, Valon wants to move the largest mortgage servicers off aging mainframe systems onto its platform, ValonOS, and the AI agents that run on it. The money will fund product development and hiring across engineering, product, deployment, and go-to-market in New York, San Francisco, and remotely.
What's the product? ValonOS replaces a servicer's fragmented systems with one operating system for loan data, investor reporting, compliance logic, and money movement. On top of that, AI agents handle tasks from answering homeowner emails to running escrow analyses.
Why now? Valon took an unusual path, first building and running its own servicing business before opening the platform to others. Within six months of offering ValonOS to the industry, it signed more than $200 million in contracted annual recurring revenue.
By the numbers: One in six outstanding US mortgages is now under contract to run on ValonOS, including Rithm CapitalDealroom has a profile for this one. Try Dealroom →'s NewrezDealroom has a profile for this one. Try Dealroom →, Carrington Mortgage ServicesDealroom has a profile for this one. Try Dealroom →, and ServiceMacDealroom has a profile for this one. Try Dealroom →. Two of the ten largest US servicers are already live on the platform.
"ValonOS is the operating system the industry is moving onto, and this financing lets us bring it, and the AI agents that run on it, to every servicer in the country," said Andrew Wang, co-founder and chief executive officer of Valon.
The signal: The round sits near the 91st percentile of all US Series D deals, a sign of strong investor appetite for AI applied to slow-moving, heavily regulated corners of finance. Mortgage servicing — where a single bill is the biggest most families pay — is becoming a test case for whether AI agents can operate safely inside regulated enterprise.
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