Modal Labs announces a $750 million late-stage funding round, a Series D, valuing the company at $15.75 billion on a post-money basis. Multiple outlets report Accel leads the round, with Kleiner Perkins joining, along with participation from a range of Modal’s existing investors.
The reports frame the financing as reflecting accelerating demand for infrastructure to build and run AI applications. Bloomberg highlights the company’s focus on “sandboxes” used to run AI workloads, citing more than 3 billion AI sandboxes, and growing demand for inference and reinforcement learning. The CEO also discusses a shift toward a new era of software in which more capable AI agents may need secure virtual environments to execute code and eventually handle longer-running tasks. While the funding and valuation figures are consistent across outlets, the emphasis differs between deal coverage and discussion of how Modal’s platform supports emerging agent-style workloads.
