Modulate raises $25 million for voice models and analysis

Boston-based voice intelligence startup Modulate has raised $25 million in a round led by Future Ventures, with participation from Hyperplane and Lakestar. The company’s platform uses more than 100 models for transcription, emotion and tone analysis, synthetic voice, deepfake and scam detection, as well as assessing customer intent and whether voice agents follow policies.

According to PitchBook data cited by TechCrunch, the company had raised $41 million before this round at a $170 million valuation. Founded in 2017 by Mike Pappas and Carter Huffman, Modulate says its smaller models reduce the need for specialized hardware and large amounts of computing. The startup has 40 to 45 employees, plans to hire 10 more, and is working to expand on-premises and on-device deployment with a focus on privacy.