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

Boston-based voice intelligence startup Modulate has raised $25 in new funding for its platform that uses an array of small models to offer enterprises transcription, emotional analysis, deepfake and AI music detection, and policy enforcement for voice agents in regulated industries.

The funding follows a popular trend among investors in the growing voice AI industry: backing companies that are trying to make AI voices sound more human.

It also rivals other companies trying to detect the intent behind human conversation by analyzing it, and those trying to protect people and companies from deepfake calls, as it is now easy to clone voices.

Modulate’s new funding was led by Future Ventures with participation from Hyperplane and Lakestar. Data from PitchBook indicated that the startup had raised $41 million in funding at a $170 million valuation prior to this round.

The startup was founded in 2017 by Mike Pappas and Carter Huffman, who met as MIT physics undergrads. In its early days, the company focused on providing voice modulation for gaming. But later, it started to concentrate on a voice-based moderation tool.

With the onset of voice AI models, the company is now concentrating on detecting different sorts of AI audio generation and analyzing intent behind a person’s words.

“Our insight into the voice AI space is that a lot of folks are doing transcription, but there’s not really any capability out there that gets the full nuance and full understanding of a conversation, which is so important when you’re talking to another human being,” Huffman said on a call with TechCrunch.

The company today runs more than 100 models that are largely categorized into two sections: Signal extraction models to understand vocal emotion, tone, language, and synthetic voice determination; and Analysis/detection models that look at intent, like what the customer is trying to say, whether the caller is violating rules, or whether they are trying to scam the receiver.

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