Fal, a startup that hosts image, video, and audio AI models for developers, has announced that it raised a $140 million Series D funding round. The investment was led by Sequoia, with participation from Kleiner Perkins, Nvidia, and other existing investors. Those existing investors also include Andreessen Horowitz.
This marks the company’s third fundraise this year. The round values Fal at $4.5 billion, which is approximately three times its valuation when it raised a $125 million Series C in July. In October, it was reported that Fal was raising a new round from investors, including Sequoia and Kleiner Perkins, at a valuation of over $4 billion. Reports at that time indicated the raise was around $250 million. The recently announced $140 million figure represents capital raised by the company, with the remainder attributed to a secondary sale where existing investors sold shares.
Fal provides the infrastructure layer for multimodal AI, serving customers such as Adobe, Shopify, Canva, and Quora. The company was founded in 2021 by Burkay Gur, a former Coinbase machine learning leader, and Gorkem Yurtseven, an ex-Amazon developer. As of October, the company has already surpassed $200 million in revenue.