Modal Labs Nears $750 Million Round at $15.75 Billion Valuation

Sep 29, 2026
Modal Labs is nearing a $750 million funding round led by Accel at a $15.75 billion valuation, including the new investment.

Modal Labs is nearing a $750 million funding round led by Accel at a $15.75 billion valuation, including the investment, according to TechCrunch. The deal has not closed, and Modal declined to comment.

The proposed round would more than triple Modal's valuation from $4.65 billion. The company reached that valuation through a $355 million fundraise announced four months ago.

Modal provides infrastructure for training and running AI models and other computing workloads without requiring customers to manage servers. The New York company surpassed $300 million in annualized revenue as of May and has about 150 employees.

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