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Announcement

Modal raises $750M Series D at $15.75B post-money valuation

Modal says it recently crossed $1 billion in annualized run rate, with Sandboxes alone at a $300 million run rate.

Elad GilEG
DeedyDE
👩‍💻 Paige Bailey👩‍💻P
16 Sources, 3h ago, first seen 3h ago

TLDR

Modal announced a $750 million Series D led by Accel at a $15.75 billion post-money valuation. The company says it recently crossed $1 billion in annualized run rate, usage has tripled since its Series C five months earlier, and Sandboxes alone reached a $300 million run rate. It also says its capacity pool spans 20-plus clouds and that virtual machines in Sandboxes are now generally available.

Combined views

136.9K

16 Sources, first seen 3h ago

1.6K likes150 comments266 saves67 reposts

Combined views

136.9K

16 Sources, first seen 3h ago

1.6K likes150 comments266 saves67 reposts
Image: @modal on X

Sentiment

Positive89.7%10.3%Negative

Summary

Many accounts praised Modal's $1B+ ARR and 15x YoY growth for its seamless developer experience, while a few questioned whether the figures reflect real revenue or sustainable retention.

Based on 88 sentiment-bearing replies from 88 accounts across 4 conversations.

Featured Source

Sentiment

Positive89.7%10.3%Negative

Summary

Many accounts praised Modal's $1B+ ARR and 15x YoY growth for its seamless developer experience, while a few questioned whether the figures reflect real revenue or sustainable retention.

Based on 88 sentiment-bearing replies from 88 accounts across 4 conversations.

16 Sources

Erik Bernhardsson@bernhardssonhttps://x.com/i/article/21101150064192921603h
AGI House@agihouse_orgCongratulations @bernhardsson and @modal team! Honored to witness the growth in our AGI House community and be a partner throughout the years!3h
👩‍💻 Paige Bailey@DynamicWebPaige$1B+ ARR and 15x YoY growth is absolutely wild, and couldn’t happen to a more cracked team. 📈 From day one, @modal has had some of the most magical Python developer experience in the ecosystem - just write code and it runs on GPUs in seconds. Thrilled to be a tiny investor and massive fan. Congrats @bernhardsson @charles_irl & team!! 🥂💚3h
Elad Gil@eladgilAI growth rates are 🤯2h
Grace Isford@graceisfordFrom the start, @modal radically reimagined a seamless developer experience @bernhardsson @akshat_b & @modal have built the primitives underpinning the most important AI workloads They’re growing 15x, passed $1B run rate & raised a $750M Series D!2h
Mamoon Hamid@mamoonhaEvery serious AI team we talk to eventually says the same thing: "we run it on Modal." @bernhardsson, @akshat_b and team built the infra developers actually love using. Thrilled that @kleinerperkins is joining the journey. Let’s go @modal!2h
Sarah Catanzaro@sarahcat21It’s effing amazing to see a company go from an idea (better tools for data/AI practitioners) to a $1B run rate business (infra for AI). Proud to be their first investor. And don’t bother me about secondaries. I won’t sell a single share for less than $100B (prob more)2h
The Peel@ThePeelPodModal is the AI-native cloud provider that just crossed a $1B revenue run rate and raised $750M at $15.75B. Back in 2024, CEO @bernhardsson revealed how they threw out traditional infrastructure and built @modal from scratch for AI: “I spent seven years at Spotify building the music recommendation system. And I realized 90% of the work is building infrastructure, not the application. So what’s broken? First, traditional infrastructure isn’t built for fast feedback loops. When you’re building AI applications, it’s annoying to test locally and then deploy to production. But you can split it into two environments. A local environment you test in. And a cloud environment you deploy into. But then you replace it with a different problem. Going from one environment to the other. This isn’t as much of a problem in traditional application development. A lot of infrastructure is pretty good at mocking the cloud when you develop locally. But it gets really hard when you have GPUs and very large models. The initialization step is very complex. You need to load all these models into GPUs. Originally, I thought about it as developer experience and fast feedback loops. I wanted to write code, hit enter, and run it in the cloud immediately. It turns out that’s also really good for running applications in the cloud. It lets you scale up and down very fast. Then third, there’s something you have in AI that you don’t have in backend land. GPU capacity problems. Now you have to run multi-region. You need to aggregate capacity from all these different places. And no region and no cloud provider has enough capacity to handle this dynamic, flexible scaling. And most of our workloads are inference. So a lot of things break with traditional backend infrastructure. That’s why we decided to start over and build our own.” Full episode here: https://www.youtube.com/watch?v=JWPqcZwxdlE2h
Turner Novak 🍌🧢@TurnerNovakRT @ThePeelPod: Modal is the AI-native cloud provider that just crossed a $1B revenue run rate and raised $750M at $15.75B. Back in 2024,…2h
Charles 🎉 Frye@charles_irlhttps://NumberGoUp.ai2h
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    16 Sources

    Erik Bernhardsson@bernhardssonhttps://x.com/i/article/21101150064192921603h
    AGI House@agihouse_orgCongratulations @bernhardsson and @modal team! Honored to witness the growth in our AGI House community and be a partner throughout the years!3h
    👩‍💻 Paige Bailey@DynamicWebPaige$1B+ ARR and 15x YoY growth is absolutely wild, and couldn’t happen to a more cracked team. 📈 From day one, @modal has had some of the most magical Python developer experience in the ecosystem - just write code and it runs on GPUs in seconds. Thrilled to be a tiny investor and massive fan. Congrats @bernhardsson @charles_irl & team!! 🥂💚3h
    Elad Gil@eladgilAI growth rates are 🤯2h
    Grace Isford@graceisfordFrom the start, @modal radically reimagined a seamless developer experience @bernhardsson @akshat_b & @modal have built the primitives underpinning the most important AI workloads They’re growing 15x, passed $1B run rate & raised a $750M Series D!2h
    Mamoon Hamid@mamoonhaEvery serious AI team we talk to eventually says the same thing: "we run it on Modal." @bernhardsson, @akshat_b and team built the infra developers actually love using. Thrilled that @kleinerperkins is joining the journey. Let’s go @modal!2h
    Sarah Catanzaro@sarahcat21It’s effing amazing to see a company go from an idea (better tools for data/AI practitioners) to a $1B run rate business (infra for AI). Proud to be their first investor. And don’t bother me about secondaries. I won’t sell a single share for less than $100B (prob more)2h
    The Peel@ThePeelPodModal is the AI-native cloud provider that just crossed a $1B revenue run rate and raised $750M at $15.75B. Back in 2024, CEO @bernhardsson revealed how they threw out traditional infrastructure and built @modal from scratch for AI: “I spent seven years at Spotify building the music recommendation system. And I realized 90% of the work is building infrastructure, not the application. So what’s broken? First, traditional infrastructure isn’t built for fast feedback loops. When you’re building AI applications, it’s annoying to test locally and then deploy to production. But you can split it into two environments. A local environment you test in. And a cloud environment you deploy into. But then you replace it with a different problem. Going from one environment to the other. This isn’t as much of a problem in traditional application development. A lot of infrastructure is pretty good at mocking the cloud when you develop locally. But it gets really hard when you have GPUs and very large models. The initialization step is very complex. You need to load all these models into GPUs. Originally, I thought about it as developer experience and fast feedback loops. I wanted to write code, hit enter, and run it in the cloud immediately. It turns out that’s also really good for running applications in the cloud. It lets you scale up and down very fast. Then third, there’s something you have in AI that you don’t have in backend land. GPU capacity problems. Now you have to run multi-region. You need to aggregate capacity from all these different places. And no region and no cloud provider has enough capacity to handle this dynamic, flexible scaling. And most of our workloads are inference. So a lot of things break with traditional backend infrastructure. That’s why we decided to start over and build our own.” Full episode here: https://www.youtube.com/watch?v=JWPqcZwxdlE2h
    Turner Novak 🍌🧢@TurnerNovakRT @ThePeelPod: Modal is the AI-native cloud provider that just crossed a $1B revenue run rate and raised $750M at $15.75B. Back in 2024,…2h
    Charles 🎉 Frye@charles_irlhttps://NumberGoUp.ai2h
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