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Modal's sandbox service reaches $1 billion in annual revenue
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AI bots have now spun up almost 3 billion throwaway computers through one company most people have never heard of, and that company just got valued at $15.75 billion. A year ago it was worth $1.1 billion. It's called Modal, and the reason bots need all those computers is kind of funny once you see it. When an AI coding tool writes code, it has no idea whether the code actually works until it runs it. And you really don't want a bot running untested code on your laptop or on the servers your…
modal@modal17h ago
Today we're announcing that Modal has crossed $1B in annualized run rate, as well as raised a $750M Series D at a $15.75B valuation, led by @Accel. Since our Series C, usage has tripled and we’ve grown more than 15x year-over-year. We are deeply grateful to the developers and companies building on Modal. There's still so much more to build, and we can't think of a better time to be building software.