Modal has announced a $750 million Series D led by Accel at a $15.75 billion post-money valuation. It says it has crossed $1 billion in annualized run rate, linking growth to inference, background agents, sandboxes and training.
The company describes infrastructure spanning more than twenty clouds and usage growth since its Series C. Sandboxes and GPU services are existing products; the funding announcement should not date every mentioned service as a new launch.
This is a financing announcement, not free credits or guaranteed GPU capacity for every customer. Annualized run rate is not completed-year revenue or proof of profit; these figures are not independently audited here.
Execution infrastructure is a market separate from models. Generated code needs somewhere to run, and training experiments consume isolated environments too.