Latent Space· Latent Space·· 16d agoSelected
Modal Achieves $1B ARR and $16B Series D Valuation, Becoming NYC's New AI Infra Decacorn
Original source: Latent SpaceRead original
AI brief
Modal has surpassed $1B in Annual Recurring Revenue (ARR) and secured a $16B Series D valuation, establishing itself as a new AI Infrastructure Decacorn in NYC. The company reported a 3x usage and 3x valuation increase in five months, and a 15x increase over one year. Modal's Sandboxes product alone reached a $300M run rate, having spun up nearly 3 billion sandboxes, scaling to a million concurrent sandboxes, supporting use cases from background agents to reinforcement learning.
Why it matters
Modal's rapid growth to a $16B valuation and $1B ARR highlights the explosive market demand and investment in AI infrastructure, which is critical for scaling advanced AI applications.
Source: Latent Space · latent.space