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Modal reaches $15.75B valuation after $750M Series D funding

1 reports1 sources10/15/2026 updated

Current overview (not historical)

AI overview

Modal has completed a $750 million Series D funding round, reaching a valuation of $15.75 billion, establishing itself as a new AI infrastructure Decacorn in New York. The company has surpassed $1 billion in Annual Recurring Revenue (ARR), with Accel leading the investment. This growth reflects significant momentum, as reported by Latent Space, noting a threefold increase in usage and valuation within five months, and a fifteenfold increase over one year.

Written with AI from the reporting · updated 10/23/2026

Latest developmentOct 15, 18:08
Modal Achieves $1B ARR and $16B Series D Valuation, Becoming NYC's New AI Infra Decacorn
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  1. 1Unclassified fact stationOct 15, 00:00recorded Oct 15, 18:44single sourcerevised

    Modal 估值突破 157.5 亿美元

    Read original source ↗ Latent SpaceReplay this moment in the explorer
    Evidence & revisions · 1 source records
    Subject：
    modal
    Action：
    完成 7.5 亿美元 Series D 融资
    Object：
    估值 157.5 亿美元
    Occurred (fact side)：
    Oct 15, 00:00
    Latent Space ↗Report pageRevision 3 · currently revised
    Published (valid side)：
    Oct 15, 18:08
    First seen (known side)：
    Oct 15, 18:44
    Fact stationSingle source · one-sided claimRevised

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Oct 15
  1. Latent SpaceSelectedRelated fact: single sourceSource report revised
    Modal Achieves $1B ARR and $16B Series D Valuation, Becoming NYC's New AI Infra Decacorn

    Report first recorded Oct 15, 18:44

    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.

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