Modal has grown its scale more than 15x year-over-year, and usage of the platform has tripled since its previous Series C funding round. This expansion is driven by an increasing number of developers and enterprises using the startup's tools to build and deploy AI software.
Tuesday, October 20, 2026
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Modal Hits $1B Run Rate and Raises $750M in Series D
Startups6 days ago
The investment firm Accel spearheaded a fresh capital injection for Modal that brings the startup's total funding to $1.2B. This Series D round of $750M values the AI infrastructure provider at $15.75B post-money, and the company simultaneously announced it has crossed $1B in annualized run rate, indicating rapid revenue growth for its compute platform.
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