Company
Accel is a global venture capital firm investing in early-stage and growth-stage startups across software, fintech, and security.
RapidCanvas raised a $29 million Series B led by Vertex Ventures SEA & India, taking total funding to $52.5 million. The company claims its ARR rose 8x over six quarters, a compound rate of about 41% a quarter.
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Modal raised $750 million in a Series D led by Accel at a $15.75 billion valuation, with annualized revenue above $1 billion. Modal says nearly a third of that revenue comes from Sandboxes, its containers for agents and the code they write.
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Scuba emerged from stealth with $34 million across a pre-seed led by Accel and a seed co-led by Accel and IVP. One deal backing two ex-Slack founders is thin evidence that investors are still funding shared-context layers.
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Scuba, founded by Slack's former chief product officer, has raised $34 million from Accel and IVP for a shared store of team data. The product is only as good as what people save into it, so a rollout turns on who does the saving.
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Jensen Huang says Nvidia will not favor its own chips on Hugging Face. The reporting captures only that statement, with no mechanism attached, and that puts weight distribution in front of platform teams as a live decision they never had to make before.
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Kubernetes creators Craig McLuckie and Joe Beda's startup Stacklok is building Mecatl, a coding-agent harness designed to run in the cloud. It pulls tool calls, session state and memory out of the agent loop so each can be put into systems an operator can manage.
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Dioxus engineers already had code running inside Devin's command line, and they arrive with a cloud harness that snapshots and forks virtual machines on five operating systems. Neither side called it an acquisition.
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Kevin Mandia's Armadin raised $255.5 million at a valuation above $2.5 billion, bringing its total to $445 million seven months after launch. Its case against periodic pen tests rests on performance data from an exercise Armadin ran with a partner.
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Armadin's $255.5 million Series B and Jeeves's $110 million raise took 68% of fintech's $541 million week, by FinTech Global's count. The prior week's top two took a similar share of $1.2 billion, so the fall hit large and small rounds alike.
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Kevin Mandia's AI cybersecurity startup Armadin raised a $255.5 million Series B at a valuation above $2.5 billion. Security teams comparing its AI agents with periodic human pentests have only Armadin's own platform figures to go on.
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Earendil's Pi 1.0 coding agent ships native MCP support after more than a year of criticising the protocol, running tool calls inside a WASM sandbox. The team credits a more stateless July 2026 spec and a sandbox it already needed for non-LLM models, so MCP support was a small addition.
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Armadin, the AI attack-testing startup run by Mandiant founder Kevin Mandia, raised $255.5 million at a valuation above $2.5 billion. Investors are betting that always-on AI agents will take over the budget companies now spend on periodic penetration tests.
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6 publishersReality
Cognition says its SWE-2 model produced up to 4.8 times more total token throughput on Nvidia's Vera Rubin NVL72 than on GB200, in a test on CoreWeave. The company-run result points to more agent capacity per system, but whether long coding tasks get cheaper depends on what the new systems cost per hour.
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Dodge AI raised $2.65 million from Accel and Google's AI Futures Fund for agents that fix incidents in SAP and other business systems. The backers are betting that maintenance money moves from outside contractors to software, on results only Dodge AI has reported so far.
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Dodge AI raised $2.65 million, led by Accel and Google's venture arm, for agents that fix SAP incidents and record the custom rules behind them. Buyers who pay integrators for that work have two unnamed customer stories, both told by the company, to judge it by.
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Four raises worth $7.7 billion landed in one week, and the largest is not a fund with an exit clock. Thrive's roll-up vehicle sold roughly a sixth of itself at a $12 billion valuation.
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Keenable left stealth with $26 million and says AI labs already query its index during training and at runtime. The scarcity argument comes from the investor who led the round.
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The Series B is all primary equity and more than quadruples a 2024 valuation Ema would not disclose. The case for it rests on two numbers from Surojit Chatterjee: 180% net dollar retention and $150M of multiyear bookings.
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Fangchang Ma says the lag and the dead-eyed listening in voice products come from the handoffs between four models. Nuance's evidence is a demo it calls unfinished and a research preview promised for later this year.
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Kevin Mandia joined Amazon's board on 8 September and takes two committee seats, including the security one a retired NSA director left in May. His day job is an AI startup that attacks corporate networks.
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Invest · September 3, 2026 · Confirmed2 publishers
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