Starwood Backs Mortgage Startup Valon at $590 Million Valuation

Valon Technologies Inc., a startup that operates a digital mortgage-servicing platform, raised $43.9 million in equity funding from investors including affiliates of Starwood Capital Group and Freedom Mortgage.

Venture firm Human Capital and Marcelo Claure, the chief executive officer of SoftBank Group International, also participated, Valon CEO and co-founder Andrew Wang said in an interview. Prior backers that again invested include Andreessen Horowitz, Fortress Investment Group affiliate New Residential Investment Corp. and Adam Neumann’s family office 166 2nd LLC.

The funding round values the New York-based startup at roughly $590 million, a person with knowledge of the ...