Company · Data & infrastructure
fal revenue, valuation & funding
fal was valued at $16B in its Series F, announced in November 2026, and its annualized revenue passed a reported $800M earlier in 2026. It's a private company with no ticker, and it hasn't stated plans to go public.
At a glance
- Valuation: $16B at its Series F, announced in November 2026, double its $8B valuation in April 2026.
- Revenue: annualized revenue passed $800M earlier in 2026, as reported. A run rate isn't audited revenue.
- Status: private. No stock ticker. No stated plan to go public.
- Founded: 2021, by Burkay Gur and Gorkem Yurtseven.
- Headquarters: San Francisco.
- CEO: Burkay Gur, co-founder. Gorkem Yurtseven is co-founder and CTO.
- Investors: Sequoia, Bessemer Venture Partners, Nvidia, Meritech Capital, Kleiner Perkins, Andreessen Horowitz and Kindred Ventures, among others.
- Products: Model APIs for more than 1,500 models, Serverless Inference, GPU Compute and fal Agent.
- On Real Alpha: 8 moments of its people talking, from 1 interview.
Is fal public? Can you buy its stock?
No. fal is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol. Nasdaq Private Market says it hasn't had an IPO and has no IPO price.
fal hasn't filed to go public, and its executives haven't given a plan or a date for a listing. Its latest money came from private investors, in a $1.3B Series F announced in November 2026 (TechCrunch).
Its shares are held privately, by investors such as Sequoia, Bessemer Venture Partners and Nvidia. Some change hands through the company or on secondary marketplaces. In its October 2025 round, existing investors sold shares in a secondary sale. This page reports facts and gives no investment advice.
Valuation, round by round
Its valuation rose from $80M at the Series A in September 2024 to $16B at the Series F in November 2026, two hundred times in a little over two years.
| Date | Valued at | Raised | Led by | Source |
|---|---|---|---|---|
| Nov 2026 | $16B | $1.3B | Bessemer Venture Partners | TechCrunch |
| Apr 2026 | $8B | $350M | Sequoia Capital | SiliconANGLE |
| Dec 2025 | $4.5B | $140M | Sequoia | TechCrunch via Yahoo Finance |
| Jul 2025 | $1.5B | $125M | — | fal on X |
| Sep 2024 | — | $14M | Kindred Ventures | TechCrunch |
| Sep 2024 | — | $9M | Andreessen Horowitz | TechCrunch |
A $49M Series B in February 2025, led by Notable Capital and Andreessen Horowitz, is listed by Sacra but isn't confirmed by a primary report. The roughly $250M reported in October 2025 included a secondary sale on top of the $140M Series D.
Revenue
Reporters put fal's annualized revenue at $200M in October 2025 and $400M in March 2026. It passed $800M earlier in 2026, according to a November report.
| Date | Figure | Basis | Source |
|---|---|---|---|
| Nov 2026 | $800M | Reported | SiliconANGLE |
| Mar 2026 | $400M | Reported | Techloy |
| Feb 2026 | $400M | Estimate | Sacra |
A run rate is a month's revenue times twelve and isn't audited revenue. Sacra's February figure is the analyst's own estimate.
How fal makes money
fal charges by usage. Developers and companies pay per API call or per GPU-second, and larger customers sign volume-commit contracts, according to Sacra.
Its revenue crossed $95M around its July 2025 Series C, per a First Round partner cited by TechCrunch. At its December 2025 Series D, fal said its run rate had grown another 300% since July (SiliconANGLE).
fal hasn't published a margin. People who know the sector's finances say inference gross margins stay thin because compute is expensive, SiliconANGLE reported.
- Model APIs. Video models are billed by output, per second or per video, depending on the model. fal.ai
- Custom deployments. Customers can run their own apps on its GPU fleet from $2.49 an hour for an H100. fal.ai
- Compute. Its homepage lists RTX, H100, H200, B200 and B300 GPUs starting at $1.99. fal.ai
- Model developers. Some of its deals with model developers pay fal licensing fees or a share of revenue, Bloomberg reported. SiliconANGLE
From fal's interviews
- 37:32 Model launches now require compute partnershipsGorkem Yurtseven · Sourcery · Nov 2026
Products
fal hosts and runs image, video and audio models for developers and companies, from its own API and on its own GPUs.
- Model APIs. One API for more than 1,500 image, video, audio, 3D and world models. fal.ai
- Serverless Inference. Runs customers' own models in production, scaling across thousands of GPUs. fal.ai
- Compute. Clusters of H100, H200, B200 and B300 GPUs for training and other heavy workloads. fal.ai
- fal Agent. A conversational layer that runs models on the user's behalf, as Contrary Research describes it. Contrary Research
- H3 Max. fal's post-trained version of MiniMax's H3 video model. fal.ai
From fal's interviews
- 13:22 fal pivoted from Python infrastructure to image modelsGorkem Yurtseven · Sourcery · Nov 2026
Users and usage
fal's homepage says it is trusted by over 2,500,000 developers. Sacra says fal reports 3 million developers making more than 50M creations a day.
Sacra names Adobe, Canva, Shopify, Perplexity and Quora as enterprise customers behind its growth. Quora CEO Adam D'Angelo says on fal's site that fal powers 40% of Poe's official image and video bots.
Demand outran supply in summer 2026. CEO Burkay Gur told SiliconANGLE that fal had to rate-limit customers it couldn't serve.
From fal's interviews
- 48:49 Hollywood adoption is slower than the AI debate suggestsGorkem Yurtseven · Sourcery · Nov 2026
- 45:06 Open source persists because studios need model controlGorkem Yurtseven · Sourcery · Nov 2026
Leadership
fal had 185 employees in November 2026 and plans to hire more with its new funding, per SiliconANGLE.
- Burkay Gur, co-founder and CEO. He was a machine learning leader at Coinbase and an engineer at Oracle. TechCrunch
- Gorkem Yurtseven, co-founder and CTO. He was a developer at Amazon before fal. SiliconANGLE
- Batuhan Taskaya, head of engineering since 2022. He was one of the core maintainers of Python. Contrary Research
From fal's interviews
- 27:37 fal keeps management flat with hands-on team leadsGorkem Yurtseven · Sourcery · Nov 2026
Who owns fal?
fal is privately held and doesn't publish who holds what. Investors have put more than $1.9B into it, according to SiliconANGLE.
Nasdaq Private Market lists its major investors as Alkeon Capital, Andreessen Horowitz, Bessemer Venture Partners, First Round Capital, Kindred Ventures, Kleiner Perkins, Meritech Capital, Notable Capital, NVIDIA, Salesforce and Sequoia.
- Bessemer Venture Partners led the $1.3B Series F in November 2026. TechCrunch
- Sequoia led the Series D in December 2025 and the Series E in April 2026. TechCrunch via Yahoo Finance
- Nvidia took part in the Series D and the Series F. TechCrunch
- Meritech Capital led the $125M Series C in July 2025. fal on X
- Kindred Ventures led the $14M Series A, announced in September 2024. TechCrunch
- Andreessen Horowitz led the $9M seed round, revealed in September 2024. TechCrunch
Competitors
fal competes with other providers that host and serve AI models. TechCrunch names Baseten, Fireworks AI and Modal as inference providers growing fast alongside it.
- Fireworks AI, which closed $1.5B at a $17.5B valuation in July 2026, per SiliconANGLE. SiliconANGLE
- Baseten, named by TechCrunch among the fast-growing inference providers. TechCrunch
- Modal, named by both TechCrunch and Sacra. Sacra
- Replicate and Runpod, which Sacra lists among fal's main infrastructure competitors. Sacra
Timeline and latest news
From its founding to the latest reports, newest first.
- Nov 3, 2026Latest
Raised a $1.3B Series F at a $16B valuation, led by Bessemer Venture Partners. TechCrunch - Nov 3, 2026Latest
Announced its Series E and Series F together, $1.65B combined. TechCrunch - Apr 2026Latest
Raised a $350M Series E at an $8B valuation, led by Sequoia Capital. SiliconANGLE - Mar 19, 2026
Was reported in talks to raise up to $350M at about $8B. Techloy - Mar 19, 2026
The Information reported annualized revenue of $400M, up from $200M in October 2025. Techloy - Dec 9, 2025
Raised a $140M Series D at a $4.5B valuation, led by Sequoia. TechCrunch via Yahoo Finance - Oct 21, 2025
TechCrunch reported a new round valuing fal at over $4B. TechCrunch - Jul 31, 2025
Raised a $125M Series C at a $1.5B valuation, led by Meritech Capital. fal on X - Jul 2025
Revenue crossed $95M, according to a First Round partner. TechCrunch - Sep 18, 2024
Announced a $14M Series A led by Kindred Ventures. TechCrunch - Sep 18, 2024
Revealed an earlier $9M seed round led by Andreessen Horowitz. TechCrunch
What others say about fal
Moments where people outside the company talk about it.
Burkay Gür · Sourcery · Nov 3, 2026
“turns out like there is essentially infinite demand”
4:33 Higher video prices are revealing deeper professional demand 5 min
Burkay Gür · Sourcery · Nov 3, 2026
“we do a little bit of like reverse selling i think that helps maybe to identify hunger”
Questions people ask
Is fal a public company? Can I buy fal stock?
No. fal is private and has no ticker, so its shares don't trade on any exchange. Nasdaq Private Market says shares change hands through the company or secondary marketplaces.
When will fal IPO?
fal hasn't filed for an IPO, and its executives haven't given a date for one.
Who owns fal?
Private investors including Sequoia, Bessemer Venture Partners, Nvidia, Meritech Capital, Kleiner Perkins and Andreessen Horowitz. Stakes haven't been disclosed.
Who is the CEO of fal?
Burkay Gur, who co-founded fal in 2021.
Who founded fal?
Burkay Gur and Gorkem Yurtseven, in 2021. 13:22
How much is fal worth?
$16B at its Series F, announced in November 2026, per TechCrunch. That's double its $8B valuation in April 2026.
How much revenue does fal make?
Its annualized revenue passed $800M earlier in 2026, a person familiar with it told Bloomberg, as SiliconANGLE reported. A run rate isn't audited revenue.
How does fal make money?
It charges by usage, per API call or per GPU-second, with volume-commit contracts for larger customers. Some deals with model developers pay it licensing fees or a share of revenue. 37:32
How many developers use fal?
Its homepage says it's trusted by over 2,500,000 developers. Sacra names Adobe, Canva, Shopify, Perplexity and Quora as enterprise customers.
Who are fal's competitors?
Inference providers including Fireworks AI, Baseten and Modal, along with Replicate and Runpod.
Every moment from fal's people
8 moments from 1 interview on 1 show, newest first. Each one plays from the minute it starts.
Sourcery · Nov 3, 2026 · 8 moments
Inside fal’s $1.65B Series E & F Led by Sequoia & Bessemer
- 4:33 Higher video prices are revealing deeper professional demand 5 min
- 13:22 fal pivoted from Python infrastructure to image models 5 min
- 48:49 Hollywood adoption is slower than the AI debate suggests 4 min
- 37:32 Model launches now require compute partnerships 5 min
- 9:22 AI ads can improve through rapid creative testing 4 min
- 27:37 fal keeps management flat with hands-on team leads 4 min
- 32:14 fal screens for agency, hunger and humility 4 min
- 45:06 Open source persists because studios need model control 3 min
People on Real Alpha
- Gorkem Yurtseven, Co-founder & CTO, fal · 5 moments
- Burkay Gür, Co-founder & CEO, fal · 3 moments
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How this page is sourced
Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it. Spotted something that's off? .
Last checked Nov 8, 2026