💰Modal Labs Nears $750M Round at $15.75B, 3x in Four Months
TL;DR
Inference provider Modal Labs is closing a $750 million round at a $15.75 billion valuation led by Accel, per TechCrunch's sources. In May it was worth $4.65 billion.
Inference provider Modal Labs is closing a $750 million round at a $15.75 billion valuation led by Accel, per TechCrunch's sources. In May it was worth $4.65 billion. Inference infrastructure is now the hottest layer in AI funding.
Key Points
$750M at $15.75B, led by Accel; not yet officially announced
May 2026 round: $355M at $4.65B
Annualized revenue passed $300M as of May
Customers include Cognition, Suno, Ramp and Substack
Peers: Baseten at $26B, with Fireworks and Fal in talks
Why It Matters
Agents burn far more inference than chat, and investors are paying up for whoever sells the compute. A 3x markup in four months is either conviction or froth.
Quick Facts
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