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Modal raises a $750 million Series D to expand its cloud infrastructure for AI agents at a $15.75 billion valuation

Funding Provisional 93% confidence first seen

Modal announced a $750 million funding round at a $15.75 billion valuation to support development of cloud infrastructure for AI agents. The coverage also reports strong business growth figures alongside the announcement, including rising usage and a growing run rate for its Sandboxes product.

Modal Accel Better.com Erik Bernhardsson Kleiner Perkins Spotify

The deal

Modal $750 million Late stage · announced 15 Oct 2026

Investors Accel Kleiner Perkins

Deal terms as reported in the coverage below.

Source coverage

Modal becomes latest decacorn after $750M raise to build cloud infrastructure for AI agents Tech Funding News independent [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 Latent Space newsletter

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