Modal raises $750M at $15.75bn valuation as run rate tops $1bn

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AI Fusion Summary

Modal, a cloud company providing AI infrastructure for developers to run models and code, has raised $750 million in a Series D funding round. Led by Accel, the round included Kleiner Perkins and existing investors such as Menlo Ventures, General Catalyst, Redpoint, and Lux Capital. This investment brings the company's valuation to $15.75 billion, which is more than triple its previous valuation. Modal currently reports a run rate that has surpassed the $1 billion mark.
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