---
title: "Modal crosses $1B in Annualized Run Rate and raises $750M Series D"
description: "Modal crossed $1B in annualized run rate and raised $750M in Series D funding at a $15.75B post-money valuation, led by Accel. Usage has tripled since the Series C five months ago, with year-over-year growth exceeding 15x, and the company now powers applications from companies including DoorDash, Cognition, and Runway. To avoid the friction of the old stack, Modal built its own file system, container runtime, scheduler, and networking from scratch on a capacity pool spanning over 20 clouds. Sandboxes, launched in 2023 for running LLM-generated code, now represent a $300M run rate product with nearly 3 billion sandboxes spun up and scaling to a million concurrent. New products include multi-node training with a single decorator giving a fully RDMA-connected cluster, Modal servers for HTTP serving, Endpoint Candidates for LLM serving, and generally available virtual machines."
---

# Modal crosses $1B in Annualized Run Rate and raises $750M Series D

[Modal](https://yomu.fyi/company/modal) · Erik Bernhardsson · Oct 14, 2026

**Type:** Announcement

## Summary

Modal crossed $1B in annualized run rate and raised $750M in Series D funding at a $15.75B post-money valuation, led by Accel. Usage has tripled since the Series C five months ago, with year-over-year growth exceeding 15x, and the company now powers applications from companies including DoorDash, Cognition, and Runway. To avoid the friction of the old stack, Modal built its own file system, container runtime, scheduler, and networking from scratch on a capacity pool spanning over 20 clouds. Sandboxes, launched in 2023 for running LLM-generated code, now represent a $300M run rate product with nearly 3 billion sandboxes spun up and scaling to a million concurrent. New products include multi-node training with a single decorator giving a fully RDMA-connected cluster, Modal servers for HTTP serving, Endpoint Candidates for LLM serving, and generally available virtual machines.

## Context

Modal’s CEO announces the company has crossed $1B annualized run rate and raised $750M Series D, describing the new infrastructure built and products launched.

## Approach / What changed

Built a custom infrastructure stack including file system, container runtime, scheduler, and networking from scratch, running on a capacity pool spanning over 20 clouds.

## Takeaways

- Modal built its own file system, container runtime, scheduler, and networking from scratch to avoid the friction of the old stack like Docker, Kubernetes, and Terraform.
- Sandboxes, launched in 2023 for running LLM-generated code, have become a $300M run rate product with nearly 3 billion sandboxes spun up.
- Modal raised $750M Series D at $15.75B post-money valuation, led by Accel, with usage tripling since the Series C five months ago.

## FAQ

### What is Modal's Sandboxes product?

Sandboxes are a building block for running LLM-generated code, launched in 2023. They now represent a $300M run rate product with nearly 3 billion sandboxes spun up, scaling to a million concurrent.

### How does Modal handle infrastructure for AI workloads?

Modal built its own file system, container runtime, scheduler, and networking from scratch on a capacity pool spanning over 20 clouds, avoiding the friction of the old stack.

### Who led Modal's Series D funding?

Accel led the $750M Series D round, with participation from Kleiner Perkins and all existing investors including Menlo Ventures, General Catalyst, Redpoint, Lux Capital, and Bain Capital Ventures.

**Tags:** [AI](https://yomu.fyi/topic/ai), [Cloud](https://yomu.fyi/topic/cloud), [GPU](https://yomu.fyi/topic/gpu), [Infrastructure](https://yomu.fyi/topic/infrastructure), [Serverless](https://yomu.fyi/topic/serverless)

- Source: [Modal](https://modal.com/blog/1-billion-annualized-run-rate-series-d)
- Source URL: https://modal.com/blog/1-billion-annualized-run-rate-series-d
- Ingested by Yomu: 2026-10-14T15:00:14.843Z

[Read original post](https://modal.com/blog/1-billion-annualized-run-rate-series-d)