Modal announces $750M Series D at a $15.75B valuation

On October 14, Modal announced a $750 million Series D led by Accel at a $15.75 billion valuation. The company said its annualized run rate had crossed $1 billion, usage had tripled since its Series C, and it had grown more than 15x year over year. In a separate post, someone hiring at Modal said its new research team was seeking interns and full-time researchers in reinforcement learning, machine learning and large models.