Modal Raises $750 Million Series D at $15.75 Billion Valuation
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On October 15, 2026, Modal announced its annualized revenue had surpassed $1 billion, along with a $750 million Series D funding round led by Accel at a post-money valuation of $15.75 billion. The company disclosed that platform usage has tripled since the Series C, up more than 15x year-over-year. Sandboxes, launched in 2023, has been a standout: that single product now generates $300 million in annualized revenue, with nearly 3 billion sandboxes launched in total and scalability to the millions of concurrent sandboxes.
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- Latent Space[AINews] Modal’s $1B ARR, $16B Series D makes it NYC’s newest AI Infra Decacorn, 3x usage and 3x valuation in 5 months, 15x in 1 yr
Modal announced its annualized revenue has surpassed $1 billion and it raised a $750 million Series D led by Accel at a $15.75 billion valuation. Usage has tripled since its Series C, growing more than 15x year over year. Sandboxes, launched in 2023, alone has reached $300 million in annualized revenue, with nearly 3 billion sandboxes launched cumulatively and the ability to scale to millions running concurrently.
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