The AI inference and sandbox platform says usage has tripled since its Series C five months ago. Accel led the round, with Kleiner Perkins joining.
Modal, which runs inference, sandboxes and training for AI applications, has raised a $750 million Series D at a $15.75 billion post-money valuation, CEO Erik Bernhardsson wrote on Wednesday. Accel led the round and Kleiner Perkins joined, with existing investors including Menlo Ventures, General Catalyst, Redpoint, Lux Capital, Amplify Partners and Bain Capital Ventures taking part. Bernhardsson says usage has tripled since the company’s Series C five months ago, that it has grown more than 15x year over year, and that it recently passed $1 billion in annualized run rate.
Sources: Modal · Accel · The Next Web