According to CoinMeta, Modal announced the completion of a $750 million Series D financing round, led by Accel, with a post-investment valuation reaching $15.75 billion. In May of this year, the company raised $355 million at a valuation of $4.65 billion, at a time when its annual revenue had just exceeded $300 million. In less than five months, its annual revenue has surpassed $1 billion, with usage increasing threefold, and business growth has exceeded 15 times over the same period last year. Modal primarily helps developers run AI models, training tasks, and Agent without the need to purchase GPU or set up their own servers. It integrates the computing power of more than 20 cloud platforms and has developed a file system, container runtime, and scheduling system. The sandbox business has seen rapid growth, with annual revenue reaching $300 million, and the platform has launched nearly 3 billion sandboxes in total, serving customers across multiple industries.