AI cloud startup Modal raises $750M at $15.75B valuation

AI cloud startup Modal raises $750M at $15.75B valuation

Modal Labs Inc., a provider of artificial intelligence infrastructure, today announced that it has raised $750 million in funding.

Accel led the Series D round. It was joined by Kleiner Perkins and a half-dozen existing Modal investors. The company is now valued at $15.75 billion, more than triple what it was worth after its last funding round in May.

The valuation bump reflects Modal’s rapid growth. The company says that its…