Modal Triples Valuation to $15 Billion
AI infrastructure startup Modal's valuation jumps to $15.75 billion after tripled demand.
In brief
AI infrastructure startup Modal's valuation jumps to $15.75 billion after tripled demand. AI infrastructure startup Modal's valuation triples to $15.75 billion as usage surges. Originally reported by Pymnts.
Modal's New Valuation
Modal's valuation jumps to $15.75 billion in a Series D funding round raising $750 million.
“Just five months ago, when we announced our Series C, I wrote that demand was accelerating”
Usage Tripled in Five Months
Usage tripled and year-over-year growth exceeded 15x since Series C announcement.
“We recently crossed $1B in annualized run rate with no sign of slowing down”
AI Infrastructure Demand Explodes
Modal provides cloud infrastructure for AI applications with inference, training, and functions.
“Companies use the Modal platform to get apps from experimentation to production”
The key point
AI infrastructure startup Modal's valuation triples to $15.75 billion as usage surges.
