Modal raises $750M Series D at $15.75B valuation
AI inference cloud provider Modal closed a $750M Series D led by Accel, valuing it at $15.75B. The company says its annualized run rate has passed $1B, a marker of fast-growing demand for AI compute services.
AI inference cloud provider Modal closed a $750M Series D led by Accel, valuing it at $15.75B. The company says its annualized run rate has passed $1B, a marker of fast-growing demand for AI compute services. (AI Weekly; Ground News (aggregating Axios, Bloomberg, SiliconANGLE and others); Crunchbase News)
Kleiner Perkins joined the round alongside existing investors including Menlo Ventures, General Catalyst, Redpoint and Lux Capital. Modal says it has raised $1.2B in total. (AI Weekly; Ground News (aggregating Axios, Bloomberg, SiliconANGLE and others); Crunchbase News)