capital · May 18, 2026
Modal in Talks to Raise at $4.5 Billion Valuation After Revenue Surges
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Modal seeks new funding at a $4.5 billion valuation. The AI inference infrastructure startup's annualized revenue reached approximately $300 million. Revenue grew about 5x from levels in fall 2025. Modal rents Nvidia GPUs and provides sandboxes for running AI agents and code. Customers including Ramp and Lovable use the isolated environments. Accel and Redpoint Ventures participate in talks alongside prior backers General Catalyst, Lux Capital, and Amplify Partners. Total capital raised exceeds $111 million. Rising GPU spot prices from major AI developers may compress margins.
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