Valon raises $150M Series D at $2.3B to put AI agents into mortgage servicing, citing $200M+ contracted ARR

Valon raised a $150M Series D led by Ribbit Capital with Andreessen Horowitz participating, doubling its valuation to $2.3B and lifting total funding past $440M. ValonOS replaces mainframe-era servicing systems with a unified platform for loan data, investor reporting, compliance and AI agents; the company says about one in six outstanding US mortgages is under contract to run on it, with ServiceMac and Carrington Mortgage Services live and Newrez migrating in 2027. Valon reports more than $200M in contracted ARR within six months of opening the platform, after selling its own servicing book to Carrington in August to focus on software. Regulated-finance back offices are proving to be one of the clearest places where agents replace entire legacy stacks.