Modal reaches $1B ARR and $16B valuation in Series D
Original title[AINews] Modal’s $1B ARR, $16B Series D makes it NYC’s newest AI Infra Decacorn, 3x usage and 3x valuation in 5 months, 15x in 1 yr
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Summary
Cloud infrastructure platform Modal closed a Series D that brought its annual recurring revenue to $1 billion and its valuation to $16 billion. The company achieved both milestones in five months, tripling both usage and valuation in that period.
Original excerpt
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#funding#modal#infrastructure