Model ML seeks to raise $100 million at over $1 billion valuation

Artificial intelligence startup Model ML is in talks to raise over $100 million, a figure that could reach $150 million depending on investor demand. The funding round, which has not yet closed, seeks to value the company at more than $1 billion. Model ML sells AI software designed to automate repetitive administrative tasks and cut down on grunt work for investment bankers and financial institutions.

Model ML funding round

• ▪Model ML is in talks to raise more than $100 million in a funding round that has not yet closed.
• ▪The size of Model ML's funding round could increase to $150 million depending on investor interest.
• ▪The details of Model ML's funding round could change as the transaction is not yet finalized.

AI software for financial institutions

• ▪Model ML operates as a startup that sells artificial intelligence software to investment banks and other financial institutions.
• ▪Model ML's artificial intelligence software is designed to reduce repetitive administrative tasks, or grunt work, for investment bankers.

Unicorn valuation

• ▪The proposed valuation of over $1 billion for Model ML remains subject to change because the funding round has not closed.
• ▪Model ML is seeking a valuation above $1 billion in its current funding discussions.