Modal Labs to get $750 million led by Accel, post-round $15.75B
Business
Modal Labs, a startup helping developers train AI models, is about to land a massive $750 million investment led by Accel.
This would push its valuation up to $15.75 billion, way up from just $4.65 billion four months ago.
The company was founded in 2021 by CEO Erik Bernhardsson and CTO Akshat Bubna.
Modal Labs reports over $300 million revenue
Modal Labs is pulling in over $300 million a year as of May 2026, but high computing costs are making it tough for the whole industry to stay profitable.
Back in July, it faced a data breach caused by a customer's code mistake; CTO Akshat Bubna reassured everyone that Modal's own systems stayed secure and emphasized that Modal's platform was not compromised in any way as the company grows fast.