TNW | Investors-funding
Modal raises $750M at $15.75bn valuation as run rate tops $1bn
The AI cloud firm’s valuation has more than tripled since May, when it raised $355m at $4.65bn.
Via TNW | Investors-funding
·Excerpt
Modal, a cloud company that runs AI models and code for developers, announced on Wednesday that it has raised $750 million in a Series D round at a $15.75 billion valuation.
Accel led the round, and Kleiner Perkins joined. All of Modal’s existing investors also took part, including Menlo Ventures, General Catalyst, Redpoint, Lux Capital, Amplify Partners, and Bain Capital Ventures.
The New York-based company said it now earns more than $1 billion in revenue a year. Usage has tripled…
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