Hey, I’m Matt. I’m a former Bloomberg News reporter, and you’re reading AI Street, where I report on how Wall Street uses AI. On Tuesdays — (I was under the weather yesterday) — I highlight novel research, emerging companies, and expert interviews.
Model ML started as a side project.
The brothers who co-founded the firm, Chaz and Arnie Englander, had set up a small family office to manage their money after selling their earlier startups.
Since they were often pitched businesses to invest in, mostly through email, the brothers built software to automatically vet founders, diligence companies and put that research into a one-pager.
“We thought it was pretty cool and then people became interested in it,” Chaz said on Y Combinator’s podcast, appearing alongside Arnie. “We kind of agreed that we were quite bad investors and okay at building stuff.”
They’ve been building quickly. Since emerging from stealth in February 2025, Model ML has:
Named HSBC, FT Partners, PwC and Deloitte among its clients.
Added advisers including former HSBC CEO Noel Quinn, former UBS chairman Axel Weber and former Julius Baer CEO Philipp Rickenbacher.
Reported doubling annual recurring revenue and adding more than 47,000 seats in the second quarter of 2026, (w/o disclosing total revenue.)
Grown to nearly 200 employees across nine offices.
Raised more than $100 million, including a $12 million seed round and a $75 million Series A.
Model ML is now seeking another funding round that could value the company at about $1.5 billion, according to a person familiar with the matter. Bloomberg reported in September that the company was discussing a raise of more than $100 million, potentially reaching $150 million, at a valuation above $1 billion. A $1.5 billion valuation would put Model ML below rival Rogo, valued at $2 billion, but above Hebbia, whose last reported valuation was roughly $700 million.
A Model ML spokesperson didn’t respond to requests for comment. Chaz Englander also didn’t respond to a LinkedIn message seeking comment for this story.
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Below, for paid subscribers: reporting on Model ML’s revenue, how bankers use its software, and a breakdown of clients and investors who are also clients.