Modal raises $750M at a $15.75B valuation as run rate tops $1B
The round, led by Accel, follows a $355M Series C in May; Modal says usage has tripled since then and its Sandboxes product has a $300M run rate.
By Ryan Merket · Published
Primary source: X
Why it matters
Modal is turning its AI infrastructure bet into a broad platform, with the company reporting more than $1B in annualized run rate and $300M from Sandboxes alone. The $750M round backs that expansion at a valuation more than three times its May 2026 Series C mark.
Modal, the AI infrastructure company co-founded by Erik Bernhardsson and Akshat Bubna, raised $750 million in a Series D at a $15.75 billion post-money valuation, while reporting more than $1 billion in annualized run rate. Accel led the round; Kleiner Perkins joined, and existing backers Menlo Ventures, General Catalyst, Redpoint Ventures, Lux Capital and Bain Capital Ventures also participated, according to Modal's announcement.…