Modal says it has crossed a $1B annualized run rate and raised a $750M Series D at a $15.75B valuation, led by Accel. Since its Series C, usage has tripled and revenue has grown more than 15x year over year. Paige Bailey, a Modal investor, congratulated the team and praised its Python developer experience for running code on GPUs in seconds.
The quoted announcement gives concrete figures for Modal's revenue run rate, valuation, and usage growth, which are useful for judging its scale.
$1B+ ARR and 15x YoY growth is absolutely wild, and couldn’t happen to a more cracked team. 📈
From day one, @modal has had some of the most magical Python developer experience in the ecosystem - just write code and it runs on GPUs in seconds. Thrilled to be a tiny investor and massive fan. Congrats @bernhardsson @charles_irl & team!! 🥂💚
Today we're announcing that Modal has crossed $1B in annualized run rate, as well as raised a $750M Series D at a $15.75B valuation, led by @Accel. Since our Series C, usage has tripled and we’ve grown more than 15x year-over-year. We are deeply grateful to the developers and companies building on Modal. There's still so much more to build, and we can't think of a better time to be building software.
Source: 👩💻 Paige Bailey · x.comPublished · added here
