Sources: Multimodal AI startup Fal.ai already raised at $4B+ valuation (techcrunch.com)

Fal.ai has closed roughly $250 million in new funding at a valuation north of $4 billion, according to sources, with Kleiner Perkins and Sequoia named as major investors. The round comes less than three months after a $125 million Series C that valued the company at $1.5 billion, reflecting explosive growth: Fal’s revenue reportedly climbed past $95 million and its developer base to over two million from about $10 million ARR and 500,000 developers a year earlier. The raise underscores how critical specialized infrastructure is becoming for multimodal AI. Fal hosts 600+ image, video, audio and 3D models, runs thousands of Nvidia H100/H200 GPUs optimized for fast inference, and offers APIs, serverless hosting and enterprise compute clusters with tools for model customization. Its focus on media-specific scaling (having optimized models like Stable Diffusion for speed) attracts customers from individual devs to firms such as Adobe, Canva, Perplexity and Shopify. With surging consumer demand for video-first apps (e.g., OpenAI’s Sora), Fal’s position as a media- and multimodal-specialist alternative to general cloud providers (Microsoft, Google, CoreWeave) makes it a consequential infrastructure bet for the next wave of content-generation AI.