← Board·Funding·importance 3/5 (editorial)
Report: Accel in talks to lead Modal Labs' raise at about $15B
- Current status
- Corroborated
- Companies
- Baseten, Modal Labs
- Happened
- Sep 23, 2026
- Last updated
- Sep 25, 2:50 PM PT (revision 2)
- Evidence
- 3 reports · 2 independent chains (adjudicated)
What happened
Axios Pro reports that Accel is in talks to lead Modal's new round, which would roughly triple its valuation to about $15B. Baseten's talks, at about $26B, are unchanged.
What materially changed (revision 2)
A named lead investor (Accel) now comes from a second, independent outlet, which corroborates Bloomberg's ~$15B valuation for Modal. Status moves from reported to corroborated.
Why it matters
A named lead makes a close more likely and firms up the valuation comparable.
Uncertainty
The round hasn't closed; both reports cite talks.
Evidence and provenance
- First reportchain: bloombergStartups Modal, Baseten in funding talks to help businesses run AIBloomberg · published Sep 23, 2026 · paywall · bloomberg.com · rev 1
- Corroborationchain: axiosAccel in talks to lead Modal raise, tripling its valuation to $15BAxios · published Sep 24, 2026 · paywall · axios.com · rev 2
- CoverageModal and Baseten seek funding at $15B and $26B valuationsRuntimeWire · published Sep 23, 2026 · runtimewire.com · rev 1
Revision history
- rev 2Sep 25, 2:50 PM PTCHANGEDReport: Accel in talks to lead Modal Labs' raise at about $15B
A named lead investor (Accel) now comes from a second, independent outlet, which corroborates Bloomberg's ~$15B valuation for Modal. Status moves from reported to corroborated.
Status: Reported → Corroborated - rev 1Sep 24, 9:53 AM PTNEWReport: Modal Labs and Baseten in funding talks at about $15B and $26B
Bloomberg reports both inference-infrastructure startups are in funding talks: Modal at about $15B (roughly triple four months ago) and Baseten at about $26B (double its June valuation). No round has closed, and raise sizes weren't given.
Status: Reported