Modal Raises $355 Million in Series C Funding at $4.65 Billion Valuation

Modal, a New York-based developer of AI-native cloud compute and serverless container infrastructure, has raised $355 million in Series C funding at a post-money valuation of $4.65 billion.

General Catalyst and Redpoint led the round. New investors Menlo Ventures, Bain Capital Ventures, and Accel also joined, along with existing backers.

What the company plans to build

Modal said it will use the fresh capital to improve its low-latency inference tools, refine reinforcement learning training workflows, and expand its parallel sandbox infrastructure. The company also plans to grow its engineering team in New York, San Francisco, and Stockholm.

How Modal positions its platform

Founded by Erik Bernhardsson and Akshat Bubna, Modal offers a general compute platform built for demanding AI workloads. Its system uses custom storage layers and GPU container snapshotting to reduce cold-start times.

That setup allows developers to scale from zero to thousands of GPUs within seconds. The platform supports batch jobs, model fine-tuning, and real-time inference.

Growth and customer base

Modal said it has passed $300 million in annualized revenue after a fivefold growth surge. The company also said its platform powers more than 1 billion isolated container sandboxes.

Its customers include DoorDash, Cognition, Decagon, Suno, Physical Intelligence, and Chai Discovery.