Entity
Modal Labs
AI cloud infrastructure startup Modal Labs raised $750 million at a $15.75 billion valuation, more than triple its previous valuation, led by Accel with Kleiner Perkins participating.
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Modal Labs Inc., a provider of AI infrastructure and cloud compute services, raised $750 million in a Series D funding round led by Accel, with participation from Kleiner Perkins and roughly half a dozen existing investors (SiliconANGLE, October 14). The round values the company at $15.75 billion, more than triple its prior valuation (SiliconANGLE, October 14). This is a significant marker of continued investor appetite for AI infrastructure startups and positions Modal as a notable player in the AI cloud/compute market alongside larger incumbents and neoclouds.