It took only about 3 months to achieve the second $100 million milestone. At this time, core customers (such as Cognition, Physical Intelligence, etc.) began to switch large-scale reinforcement learning (RL) and real-time inference clusters to the Modal platform.
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Modal Historical Milestones
Sep 8, 2026
Modal ARR nearing $1B with 10x growth in a year$1B
May 23, 2026
Modal surpasses $300M ARR with $335M fundraising at a $4.65B valuation$300M
Feb 18, 2026
Modal ARR hit $200M$200M
Nov 20, 2025
Modal ARR hit $100M$100M
Sep 29, 2025
Modal ARR hit $50M with $87M Series B$50M
AI INSIGHTS
Revenue Growth Projection
Projected ARR in 1 Year
$3.4B
Est. Time to $1.5B
~77 days