Modal Closes $1.6B Series D, Valuation Triples in 5 Months
10/14/2026 — 10/16, 03:22·2 sources (all)·2 reports (all)
Key takeaways
- Modal has closed a $1.6B Series D round, with annualized recurring revenue reaching $1B, making it New York's newest AI infrastructure decac…
Modal has closed a $1.6B Series D round, with annualized recurring revenue reaching $1B, making it New York's newest AI infrastructure decacorn. Usage and valuation reportedly tripled in five months and grew 15x in a year. An earlier Axios report put the round at $750M with a $15.75B valuation, so the two accounts differ.
Latest turnModal has raised a $1B Series D at a $16B valuation while reaching $1B in ARR, according to Latent Space's AINews, making it New York City's newest AI infrastructure decacorn. The report says its usage and valuation grew 3x in five months and 15x in a year.
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Modal has raised a $1B Series D at a $16B valuation while reaching $1B in ARR, according to Latent Space's AINews, making it New York City's newest AI infrastructure decacorn. The report says its usage and valuation grew 3x in five months and 15x in a year.
Latent SpaceAI score 64
According to Axios, AI infrastructure startup Modal has raised a $750 million Series D led by Accel at a $15.75 billion post-money valuation. The round brings its total funding to $1.2 billion, alongside surpassing $1 billion in ARR.
TechmemeAI score 54
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