Modal Labs
Funding History
| Series B · 09/2025 | $1.1B |
|---|---|
| Series C · 05/2026 | $4.7B |
About
Modal provides a serverless cloud platform purpose-built for AI, data, and machine-learning workloads, giving developers instant GPU access and sub-second container starts through a Python SDK rather than config files or cloud consoles.
- valuation
- $4.65B
- totalFundingDisclosed
- $466.00M
- annualizedRevenue
- $300.00M
- employees
- 230+
- headquarters
- New York, NY
- founded
- 2021
Overview
Founded in 2021 by Erik Bernhardsson, a former Spotify engineering leader and CTO of Better.com, Modal built a proprietary container runtime, scheduler, and image builder designed for sub-second cold starts and multi-tenant GPU scheduling rather than layering on top of Docker and Kubernetes. Akshat Bubna, an early engineer at Scale AI, joined later in 2021 as co-founder and CTO.
Modal's usage-based, Python-first platform is used by AI-native companies including Cognition, Suno, Ramp, Harvey AI, Substack, and Chai Discovery to scale from zero to thousands of GPUs and back down, and the company says more than a billion compute sandboxes have been launched on its infrastructure.
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