Modal raises $750M at a $15.75B valuation as run rate tops $1B

First reported by RuntimeWire at · Updated · 3 sources

The round, led by Accel, follows a $355M Series C in May; Modal says usage has tripled since then and its Sandboxes product has a $300M run rate.

Covered by 3 publishers within 3 hours of the first report.

Summary from RuntimeWire.

Reporting3

RuntimeWire Modal raises $750M at a $15.75B valuation as run rate tops $1B · Ryan Merket
The Next Web Modal raises $750M at $15.75bn valuation as run rate tops $1bn · Ana-Maria Stanciuc
SiliconANGLE AI cloud startup Modal raises $750M at $15.75B valuation · Maria Deutscher