Modal
Run AI and data jobs without maintaining a server fleet.
Modal Funding History
Modal provides serverless cloud compute for AI workloads.
Company Overview
Founded 2021 · New York, New York, US
Official WebsiteModal Funding Timeline
Series D
US$750 million
Modal announced the financing alongside $1 billion in annualized run rate and said it was expanding into reinforcement learning and post-training tools.
Led by Accel.
Source · modal.com ↗Series C
$355M · $4.65B valuation
Modal highlighted demand for infrastructure that can run inference at low latency and scale capacity as workloads change.
Led by General Catalyst, Redpoint. Participation included Menlo Ventures, Bain Capital Ventures, Accel.
Source · modal.com ↗Series B
US$87 million
Modal used the announcement to explain why it was building infrastructure for AI workloads rather than retrofitting existing cloud tools.
Led by Lux Capital.
Source · modal.com ↗Series A
US$16 million
Modal announced general availability alongside the round, opening its serverless infrastructure for running compute-intensive Python workloads.
Led by Redpoint.
Source · modal.com ↗Seed
~US$7 million (implied)
Modal later identified Amplify Partners as its seed lead when it announced general availability of its cloud platform for running compute-intensive code.
Led by Amplify Partners.
Review source · modal.com ↗
Modal Founding Team
Erik Bernhardsson and Akshat Bubna started Modal to make it easier for developers to ship applications that need data processing or machine learning infrastructure.
- Erik Bernhardsson led engineering teams at Spotify before founding Modal.
Modal Products
Modal Company Development
Making Remote Compute a Developer Workflow
Modal’s 2023 general availability launch brought its remote execution platform to a wider set of developers. The business developed around running an application’s compute-intensive parts in the cloud while developers keep working in familiar code and tooling.
Modal Competitive Landscape
Remote Execution and Model Endpoints
Modal offers a programmable environment for running an application’s code. Baseten specializes in serving models in production. They overlap in inference, but the right starting point depends on whether a team needs a general compute environment or a model endpoint.
