Modal Labs in talks for a round that would triple its valuation in four months
Modal Labs is reportedly nearing $750 million at a $15.75 billion valuation; the deal is unannounced and terms could still change.
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TechCrunch reported on September 28, citing a source with knowledge of the funding, that inference infrastructure provider Modal Labs is nearing a $750 million round led by Accel at a $15.75 billion valuation including the investment. The company declined to comment, and the deal has not been announced.
For comparison, Modal's previous $355 million round announced in May valued it at $4.65 billion — the new figure is more than triple. The company told Reuters in May it had surpassed $300 million in annualized revenue.
The report notes several inference startups are in talks for sharply higher valuations, though margins in the business are thin because compute costs remain high; this round is still in the talking stage, and the size and valuation could change.