Modal raises $750 million Series D at $15.75 billion valuation
AI infrastructure startup Modal announced a $750 million Series D financing round. The round was led by venture firm Accel, according to the filing. The investment values Modal at $15.75 billion on a post‑money basis and pushes the company’s annual recurring revenue past the $1 billion mark.
Key points
- Modal raised $750 million in a Series D round led by Accel
- The financing values Modal at $15.75 billion post‑money
- Modal now reports over $1 billion in annual recurring revenue
The funding adds to Modal’s growth as a cloud‑native platform that lets developers build and run AI workloads at scale. Chris Metinko reported the deal for Axios, noting that the company’s revenue milestone signals strong demand for specialized AI infrastructure services.
Modal’s latest raise underscores the continued appetite of investors for companies that enable large‑scale model training and inference, a critical piece of the expanding AI ecosystem.
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