Modal valuation, funding and investors
Modal works in serverless AI infrastructure development, based in New York, United States. Founded in 2021, it has about 233 employees.
- Last round
- Series C · $355M · May 2026
- Valuation at last round
- $4.65B
- Headcount
- 233 · growing
- Grade
- B
- Founded
- 2021
Modal valuation today
VCMC values Modal at $5.4B today, with a range of $4.0B to $7.6B and a grade of B. The valuation starts from its last funding round, a Series C round in May 2026.
Valuation by date (74 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2021 | $16.8M | $6.11M – $46.1M | $18.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2021 | $16.9M | $6.17M – $46.5M | $18.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2021 | $17.1M | $6.22M – $46.9M | $19.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2021 | $17.2M | $6.28M – $47.4M | $19.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2021 | $17.4M | $6.33M – $47.8M | $19.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2021 | $17.6M | $6.39M – $48.2M | $19.4M (+10%) | before first round | – | unknown | D | 0% |
| 1 Jul 2021 | $17.7M | $6.45M – $48.6M | $19.5M (+10%) | before first round | – | unknown | D | 0% |
| 1 Aug 2021 | $17.9M | $6.51M – $49.1M | $19.7M (+10%) | before first round | – | unknown | D | 0% |
| 1 Sep 2021 | $18.0M | $6.57M – $49.5M | $19.8M (+10%) | before first round | – | unknown | D | 0% |
| 1 Oct 2021 | $18.2M | $6.62M – $50.0M | $20.0M (+10%) | before first round | – | unknown | D | 0% |
| 1 Nov 2021 | $18.4M | $6.68M – $50.4M | $20.1M (+10%) | before first round | – | unknown | D | 0% |
| 1 Dec 2021 | $18.5M | $6.74M – $50.9M | $20.3M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jan 2022 | $18.7M | $6.81M – $51.4M | $20.4M (+9%) | before first round | – | unknown | D | 0% |
| 1 Feb 2022 | $18.8M | $6.86M – $51.7M | $20.6M (+9%) | before first round | – | unknown | D | 0% |
| 1 Mar 2022 | $19.0M | $6.90M – $52.1M | $20.7M (+9%) | before first round | – | unknown | D | 0% |
| 1 Apr 2022 | $19.1M | $6.96M – $52.5M | $20.9M (+9%) | before first round | – | unknown | D | 0% |
| 1 May 2022 | $19.2M | $7.01M – $52.9M | $21.0M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jun 2022 | $19.4M | $7.06M – $53.3M | $21.2M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jul 2022 | $19.5M | $7.11M – $53.7M | $21.3M (+9%) | before first round | – | unknown | D | 0% |
| 1 Aug 2022 | $19.7M | $7.16M – $54.1M | $21.5M (+9%) | before first round | – | unknown | D | 0% |
| 1 Sep 2022 | $19.8M | $7.22M – $54.5M | $21.7M (+9%) | before first round | – | unknown | D | 0% |
| 1 Oct 2022 | $20.0M | $7.27M – $54.9M | $21.8M (+9%) | before first round | – | unknown | D | 0% |
| 1 Nov 2022 | $20.1M | $7.32M – $55.3M | $22.0M (+9%) | before first round | – | unknown | D | 0% |
| 1 Dec 2022 | $20.3M | $7.38M – $55.7M | $22.1M (+9%) | before first round | – | unknown | D | 0% |
| 1 Jan 2023 | $17.9M | $6.51M – $49.1M | $19.5M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 Feb 2023 | $18.0M | $6.56M – $49.5M | $19.7M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 Mar 2023 | $18.1M | $6.60M – $49.8M | $19.8M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 Apr 2023 | $18.3M | $6.65M – $50.2M | $20.0M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 May 2023 | $18.4M | $6.70M – $50.5M | $20.1M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 Jun 2023 | $18.5M | $6.75M – $50.9M | $20.2M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 Jul 2023 | $18.7M | $6.80M – $51.3M | $20.4M (+9%) | before first round | 7 | unknown | D | 0% |
| 1 Aug 2023 | $18.8M | $6.85M – $51.7M | $20.4M (+8%) | before first round | 7 | unknown | D | 0% |
| 1 Sep 2023 | $19.0M | $6.90M – $52.1M | $20.4M (+8%) | before first round | 7 | unknown | D | 0% |
| 1 Oct 2023 | $29.2M | $12.5M – $57.9M | $31.2M (+7%) | before first round | 13 | growing | C | 0% |
| 11 Oct 2023 | $89.0M | $58.4M – $244M | $160M (+80%) | after a round | 13 | growing | C | 0% |
| 1 Nov 2023 | $92.1M | $58.4M – $244M | $160M (+74%) | after a round | 13 | growing | C | 0% |
| 1 Dec 2023 | $96.6M | $58.4M – $244M | $160M (+66%) | after a round | 13 | growing | C | 0% |
| 1 Jan 2024 | $102M | $58.4M – $244M | $160M (+57%) | after a round | 13 | growing | C | 0% |
| 1 Feb 2024 | $107M | $58.4M – $244M | $160M (+50%) | after a round | 13 | growing | C | 0% |
| 1 Mar 2024 | $116M | $63.5M – $265M | $174M (+50%) | after a round | 19 | growing | C | 0% |
| 1 Apr 2024 | $122M | $63.5M – $265M | $174M (+42%) | after a round | 19 | growing | C | 0% |
| 1 May 2024 | $129M | $63.5M – $265M | $174M (+34%) | after a round | 19 | growing | C | 0% |
| 1 Jun 2024 | $137M | $63.5M – $265M | $174M (+27%) | after a round | 19 | growing | C | 0% |
| 1 Jul 2024 | $145M | $63.5M – $265M | $174M (+20%) | after a round | 19 | growing | C | 0% |
| 1 Aug 2024 | $169M | $71.7M – $299M | $196M (+16%) | after a round | 33 | growing | C | 0% |
| 1 Sep 2024 | $181M | $71.7M – $299M | $196M (+9%) | after a round | 33 | growing | C | 0% |
| 1 Oct 2024 | $193M | $71.7M – $299M | $196M (+2%) | after a round | 33 | growing | C | 0% |
| 1 Nov 2024 | $212M | $78.3M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Dec 2024 | $212M | $79.4M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Jan 2025 | $212M | $80.5M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Feb 2025 | $212M | $81.7M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Mar 2025 | $212M | $82.8M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Apr 2025 | $212M | $84.0M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 May 2025 | $212M | $85.1M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Jun 2025 | $212M | $86.4M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Jul 2025 | $212M | $87.6M – $323M | $212M (0%) | after a round | 47 | growing | C | 0% |
| 1 Aug 2025 | $237M | $99.0M – $360M | $237M (0%) | after a round | 77 | growing | C | 0% |
| 1 Sep 2025 | $237M | $100M – $360M | $237M (0%) | after a round | 77 | growing | C | 0% |
| 30 Sep 2025 | $1.1B | $956M – $1.9B | $1.6B (+50%) | after a round | 77 | growing | B | 0% |
| 1 Oct 2025 | $1.1B | $956M – $1.9B | $1.6B (+50%) | after a round | 87 | growing | B | 0% |
| 1 Nov 2025 | $1.1B | $956M – $1.9B | $1.7B (+48%) | after a round | 97 | growing | B | 0% |
| 1 Dec 2025 | $1.2B | $956M – $1.9B | $1.7B (+43%) | after a round | 97 | growing | B | 0% |
| 1 Jan 2026 | $1.2B | $956M – $1.9B | $1.7B (+38%) | after a round | 97 | growing | B | 0% |
| 1 Feb 2026 | $1.3B | $956M – $1.9B | $1.7B (+33%) | after a round | 97 | growing | B | 0% |
| 1 Mar 2026 | $1.3B | $956M – $1.9B | $1.7B (+28%) | after a round | 97 | growing | B | 0% |
| 1 Apr 2026 | $1.4B | $956M – $1.9B | $1.7B (+24%) | after a round | 97 | growing | B | 0% |
| 1 May 2026 | $1.5B | $956M – $2.2B | $1.9B (+25%) | after a round | 157 | growing | B | 0% |
| 22 May 2026 | $4.7B | $4.0B – $7.0B | $6.0B (+30%) | after a round | 157 | growing | A | 0% |
| 1 Jun 2026 | $4.7B | $4.0B – $7.0B | $6.0B (+29%) | after a round | 157 | growing | A | 0% |
| 1 Jul 2026 | $4.8B | $4.0B – $7.0B | $6.0B (+26%) | after a round | 157 | growing | A | 0% |
| 1 Aug 2026 | $4.9B | $4.0B – $7.3B | $6.3B (+28%) | after a round | 193 | growing | A | 0% |
| 1 Sep 2026 | $5.1B | $4.0B – $7.3B | $6.3B (+25%) | after a round | 193 | growing | A | 0% |
| 1 Oct 2026 | $5.3B | $4.0B – $7.6B | $6.6B (+25%) | after a round | 233 | growing | B | 0% |
| 24 Oct 2026 | $5.4B | $4.0B – $7.6B | $6.6B (+22%) | after a round | 233 | growing | B | 0% |
Key facts about Modal
- Founded
- 2021
- Headquarters
- New York, United States
- Employees
- about 233 +168% in a year
- Total raised
- $458M
- Funding rounds
- 3
- Last round
- Series C May 2026
Modal was founded in 2021 by Akshat Bubna and Erik Bernhardsson.
Modal funding history
Modal has 3 funding rounds on record, from Oct 2023 to May 2026, $458M in total. The latest disclosed valuation is $4.65B post-money (Series C, May 2026).
Series C 21 May 2026
Led by General Catalyst, Redpoint Ventures; with Menlo Ventures, Bain Capital Ventures, Accel.
Sources: modal.com, datacenterdynamics.com, aipressroom.com and 3 more
$355M
$4.65B post-money
Series B 29 Sep 2025
Led by Lux Capital.
Sources: modal.com, daily.dev, techfundingnews.com and 2 more
$87M
$1.10B post-money
Series A 10 Oct 2023
Led by Redpoint Ventures, Amplify Partners; with Lux Capital, Definition Capital.
Sources: modal.com, maginative.com, citybiz.co
$16M
Modal investors
8 investors have backed Modal; Lux Capital, Redpoint Ventures and Amplify Partners and 1 more led at least one round.
- Lux Capital lead, 2 rounds
- Redpoint Ventures lead, 2 rounds
- Amplify Partners lead
- General Catalyst lead
- Accel
- Bain Capital Ventures
- Definition Capital
- Menlo Ventures
What Modal does
Modal works in tech companies, with 16 recorded offerings and customers in healthcare, media and technology.
Modal Labs, Inc. is an American software company engaged in providing AI infrastructure and serverless compute platforms for AI, machine learning, and data teams. The company offers a platform that supports inference, training, batch processing, and sandbox environments, serving industries such as healthcare, media, and technology. Modal also develops AI-native runtimes, elastic cloud capacity, and global GPU infrastructure, and holds SOC2 and HIPAA certifications.
Description from Veridion's company data.
Products and services
- Serverless AI Infrastructure Development
- AI Inference Services
- AI Training Services
- Batch Job Processing Services
- Sandbox Environment Services
- Generative AI Model Inference Services
- LLM Fine-Tuning Services
- Computational Biology Workload Services
- Media Processing Workload Services
- Reinforcement Learning Workload Services
- Multi-Modal Inference Services
- Python SDK Development
- Custom Hardware and Logic Definition Services
- Global GPU Infrastructure Access Services
- Elastic Cloud Capacity Provisioning
- Workflow Integration Solutions
Markets
- Healthcare
- Media
- Technology
Technology
- AI-Native Runtimes
- Elastic Cloud Capacity
- Global GPU Infrastructure
- Proprietary Rust-Based Container Stack
- Durable File System for AI Workloads
- Custom Container Runtime for AI Inference
- Scheduler for Auto Scaling AI Workloads
- Multi-Modal Inference Support
- Reinforcement Learning Support
- Computational Biology Support
- Usage-Based Pricing for AI Infrastructure
Certifications
- SOC2 certified
- HIPAA compliant
Business model
- Business-to-Business
- Software-as-a-Service
- Subscription-Based
- Enterprise
Industry codes (NAICS)
- 513210 Software Publishers 70% match
- 518210 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services 30% match
Questions about Modal
What is Modal worth?
Valuation $5.4B (range $4.0B to $7.6B), as of 24 Oct 2026. The last disclosed valuation was $4.65B (Series C, May 2026).
Has Modal raised money?
Modal has 3 funding rounds on record, from Oct 2023 to May 2026, $458M in total. The latest disclosed valuation is $4.65B post-money (Series C, May 2026).
Who has invested in Modal?
Lux Capital, Redpoint Ventures, Amplify Partners, General Catalyst, Accel and Bain Capital Ventures, and 2 more. Lead investors include Lux Capital, Redpoint Ventures, Amplify Partners and General Catalyst.
How many people work at Modal?
About 233, up 168% over the last year. Headcount grew from 7 in Jan 2023 to 233 in Sep 2026.
What does Modal do?
Modal works in tech companies, with 16 recorded offerings and customers in healthcare, media and technology. Its main offerings are serverless AI infrastructure development, AI inference services and AI training services.
When was Modal founded, and where is it based?
Modal was founded in 2021 and is based in New York, United States. It has about 233 employees, up 168% over the last year.