Modal raises 750 million dollars as sandboxes for AI code become big business
Five months after its last round, the company says its run-rate revenue has passed one billion dollars. A big slice comes from boxes that keep AI agents' code contained.
Oleh The desk, News · · 1 menit baca
Disunting oleh Dimitri Gärtner
Tag: modal · funding · agents · infrastructure
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- Beritanya
- Five months after its last round, the company says its run-rate revenue has passed one billion dollars.
- Mengapa ini penting
- A big slice comes from boxes that keep AI agents' code contained.
- Yang terkonfirmasi
- The photograph is generated for this story.
Terikat pada sumber yang disebut. Tidak ditandai terverifikasi. Modal blog
The news
Modal announced a 750 million dollar Series D led by Accel at a 15.75 billion dollar post-money valuation, more than triple the 4.65 billion dollar valuation of its May Series C. The company says annualised run-rate revenue has crossed one billion dollars and usage has tripled since that round.
Why it matters
Running code written by AI agents safely has turned into a billion-dollar category in under two years. That is the picks-and-shovels layer under every coding agent.
The details
Modal says its Sandboxes product, isolated runtimes for code generated by language models, is on its own a business of about 300 million dollars a year in run-rate revenue. Kleiner Perkins joined the round, and existing investors including Menlo Ventures, General Catalyst and Redpoint took part.
The raise landed the same week Perplexity open-sourced its own agent sandbox, a sign that this layer will be fought over on price.
What we could not check
- Revenue and usage figures are reported by Modal and not audited.
- We could not confirm how Modal defines run-rate revenue.
Sumber
The photograph is generated for this story. It does not show the people named in it.