Skip to main content
Trending storyWatching

Modal raises $750M Series D at $15.75B valuation

4 reports4 report sources3 days agoUpdate

Get up to speed on this story

AI Summary

Modal Labs, which sells AI infrastructure, raised $750 million in a Series D led by Accel, with Kleiner Perkins and all existing investors participating, including Menlo Ventures, General Catalyst, Redpoint, Lux Capital and Bain Capital Ventures. The round values the company at $15.75 billion, up from $4.65 billion less than five months earlier. Modal says usage has tripled since its Series C and grown more than 15x year over year, with annualized run rate crossing $1 billion. Its sandbox product alone has reached a $300 million run rate, with close to 3 billion sandboxes launched and capacity for 1 million running at once, the company said. Modal has now raised roughly $1.2 billion across disclosed rounds, starting with a seed round led by Amplify Partners and a $16 million Series A in October 2023.

AI-generated from reports · 3 days agoUpdate

Latest updatesOct 15 15:30
Modal raises $750M at $15.75B valuation to build cloud infrastructure for AI agents

Report timeline

Follow the reports to understand different sides of the story.

Oct 17
  1. Crunchbase News
    Modal Labs Leads Week's 10 Biggest Funding Rounds With $750M Series D

    Modal Labs raised $750M in a Series D led by Accel at a $15.75B valuation, topping the week's 10 largest US startup rounds. Icon followed with $200M for robotic construction.

Oct 15
  1. Tech Funding NewsTop Deals
    Modal raises $750M at $15.75B valuation to build cloud infrastructure for AI agents

    Modal raised $750M at a $15.75B valuation led by Accel, with Kleiner Perkins joining.

  2. SiliconANGLETop Deals
    Modal raises $750M Series D at $15.75B valuation

    Modal Labs raised $750M in a Series D led by Accel, with Kleiner Perkins and existing investors.

  3. AlleyWatch Funding
    Modal raises $750M Series D for AI inference, sandboxes, and training

    Modal, an AI infrastructure platform for inference, sandboxes, and training, raised $750M in Series D funding led by Accel.

Trend for this story

Not enough continuous observation data yet; trend chart is not drawn for now.

Subscribe to the newsletters

Free, by email. No account needed. Pick one or both.

No spam. Unsubscribe anytime by emailing team@midu.si. Want alerts and full data? Sign up free (separate from the newsletter). Privacy.

Not investment advice. Midu summarizes public reports and SEC filings for information only. · Free API · Pricing