# Modal Labs nears $750M funding round at $15.75B valuation

> Modal Labs is reportedly close to a $750 million funding round led by Accel. The proposed valuation is more than three times the company’s level four months ago.

Oossa · 2026-09-28 · https://oossa.com/en/modal-labs-nears-750m-funding-round-at-15-75b-valuation

Modal Labs is nearing a $750 million funding round led by Accel, at a $15.75 billion valuation that includes the investment, according to a source cited by TechCrunch. The company declined to comment, so the deal has not been confirmed by Modal.

Modal provides computing services that help developers run AI models without managing their own servers. Its reported valuation has more than tripled in four months, as demand for services that run trained AI models grows. The company told Reuters in May that its annualized revenue had passed $300 million.

## The facts

- Modal’s previous round, announced four months earlier, raised $355 million at a $4.65 billion valuation.
- Modal was founded in 2021 and is based in New York.

## Why it matters

The reported deal shows how quickly investor interest is rising in the computing services that power AI products, even as providers face high computing costs.

## Sources & references

1. [Source: Inference provider Modal Labs closing in on $750M round at $15.75B valuation](https://techcrunch.com/2026/09/28/source-inference-provider-modal-labs-closing-in-on-750m-round-at-15-75b-valuation/) – TechCrunch, 2026-09-28

Last updated: 2026-09-28