EventBusinessOctober 16, 2026

Modal hits $1B ARR and $16B Series D, 3x usage in 5 months

Read original source →latent.space

Modal raised a $16B Series D as it crossed $1B ARR, tripling both usage and valuation in five months and 15x-ing in a year. Its Sandboxes product alone runs a $300M run rate, with close to 3 billion sandboxes spun up and scaling to a million concurrent.

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