Modal becomes latest decacorn after $750M raise to build cloud infrastructure for AI agents — TFN
Summary
Modal raised $750 million at a $15.75 billion valuation, with Accel leading the round and Kleiner Perkins joining. The company builds cloud infrastructure that helps developers run code, sandboxes, and AI workloads without managing servers. Its Sandboxes product has become the main growth driver and has reached a $300 million run rate. Modal now serves customers such as DoorDash, Ramp, Linear, and Runway, and it reports rapid usage growth across its platform. The funding underscores intense investor demand for AI infrastructure and inference tooling.
Funding
Amount
$750.0M
Total raised
Date
October 14, 2025
Announcement date
Investors
Menlo Ventures, Kleiner Perkins Caufield & Byers, Accel, Redpoint Ventures, Bain Capital Ventures, Amplify Partners, General Catalyst
Lead investors
Company
modal.com
Funded company
AskAI Classifications
Sectors
No sectors detected
Functions
Developer and IT Infrastructure
Infrastructure Management
Development Platforms
Linked Companies
Modal
$1M to $5M