Funding round
Modal Series C
Modal, which works in serverless AI infrastructure development in New York, raised $355M in a Series C round announced on 21 May 2026, led by General Catalyst and Redpoint Ventures, at a $4.65B post-money valuation. 5 firms took part, 2 of them already investors. It is Modal's third venture round on record; the one before was a Series B in Sep 2025.
$355M
Amount raised
$4.65B
Post-money valuation
5
Investors
2 leads
4.2x
Step-up from the Series B
$1.10B in Sep 2025
7.6%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Modal at $4.65B after the new money, 4.2 times the $1.10B of its Series B (Sep 2025). The $355M bought investors about 7.6% of the company. It came 8 months after Modal's Series B. It is 78% of the $458M Modal has raised in the venture rounds on record. No later venture round is on record for Modal.
Modal's funding rounds
Modal has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
General Catalyst and Redpoint Ventures led the round with 3 other firms. General Catalyst and Redpoint Ventures had backed Modal before.
Lead investors
- General Catalyst backs 574 venture-backed companies existing investor
- Redpoint Ventures backs 194 venture-backed companies existing investor
Also in the round
- Menlo Ventures backs 215 venture-backed companies new investor
- Bain Capital Ventures backs 220 venture-backed companies new investor
- Accel backs 581 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
186 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $69M, and this round was 5.1 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 20 May 2026 | $250M | $2.20B | Andreessen Horowitz |
| Tech Companies | 29 May 2026 | $110M | not disclosed | not named |
| Tech Companies | 28 May 2026 | $110M | not disclosed | Headline |
| Tech Companies | 20 May 2026 | $60M | $1.00B | Thrive Capital |
| Tech Companies | 28 May 2026 | $47M | not disclosed | Brighton Park Capital |
| Tech Companies | 29 May 2026 | $38M | not disclosed | JIC Venture Growth Investments |
| Tech Companies | 14 May 2026 | $20M | not disclosed | Angel Bridge and Globis Capital Partners |
| Oxford Quantum Circuits Tech Companies | 3 Jun 2026 | $350M | not disclosed | Bullhound Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Modal raise in its Series C round?
Modal raised $355M in its Series C round, announced in May 2026.
Who led Modal's Series C round?
General Catalyst and Redpoint Ventures led it, with Menlo Ventures, Bain Capital Ventures and Accel.
What was Modal's valuation at the Series C round?
$4.65B post-money.
How does it compare with other Series C rounds in Tech Companies?
186 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $69M, and this round was 5.1 times the median.