GPU Platform Modal Seeks $150M-250M at $4.5B Valuation as Annual Revenue Hits $300M

According to The Information, GPU computing platform Modal is in funding discussions targeting a $4.5 billion valuation, representing an 80% premium from its previous round several months ago. The company aims to raise $150 million to $250 million, with existing investors Accel and Redpoint Ventures participating in negotiations.

Modal's annual revenue has reached approximately $300 million, up five-fold from last fall. The surge is primarily driven by demand from AI Agent sandboxes, isolated environments where developers can safely execute code without affecting main systems. With companies like Ramp and Lovable extensively using sandboxes for Agent development and reinforcement learning, Modal has capitalized on rapid growth in the application layer.