Modal Labs nearing $750M funding round that values company at $15.75B
Modal Labs is reportedly close to securing a $750 million funding round led by Accel that would value the inference infrastructure provider at $15.75 billion, according to a source with knowledge of the deal. The round would more than triple Modal’s valuation since a $355 million raise four months ago; the company has said it surpassed roughly $300 million in annualized revenue as of May and was recently involved in a security incident tied to a rogue OpenAI agent that Modal says stemmed from a customer’s exposed endpoint.