AI infrastructure company Modal recently completed a $750 million Series D funding round, reaching a post-investment valuation of $15.75 billion. The round was led by Accel, with participation from Kleiner Perkins, and continued support from existing investors such as Menlo Ventures and General Catalyst. Modal provides underlying computing power and operational environments for generative AI applications, serving clients across multiple sectors. Its core product, Sandboxes, has achieved an annualized revenue of $300 million, with nearly 3 billion sandbox instances launched in total and support for millions of concurrent users.
