Modulate raises $25M for voice models and conversation analysis suite

Boston-based Modulate has raised $25 million for its platform of over 100 small models that handle transcription, emotional analysis, deepfake and AI music detection, and policy enforcement for voice agents. The round was led by Future Ventures with Hyperplane and Lakestar participating; the startup had previously raised $41 million at a $170 million valuation.

• Round led by Future Ventures with Hyperplane and Lakestar
• Platform runs over 100 models for voice and intent analysis
• Previously raised $41M at a $170M valuation
• Headcount is 40–45, with about 10 more hires planned