companies

Modal Labs

Serverless cloud platform for running AI and data-intensive workloads with on-demand GPU access and auto-scaling.

Modal Labs was founded in January 2021 by Erik Bernhardsson, a former engineering leader at Spotify and Better.com, joined later that year by co-founder and CTO Akshat Bubna. The company is headquartered in New York City with additional offices in San Francisco and Stockholm. Modal provides a serverless compute platform designed for AI and machine learning workloads, letting developers run Python code, GPU jobs, and data pipelines in the cloud without managing infrastructure. It has become popular with AI teams for fast iteration on model training and inference. Modal has raised over $450M across multiple rounds, including a $7M seed (2022), $16M Series A (2023) led by Redpoint Ventures, an $87M Series B (September 2025) led by Lux Capital at a $1.1B valuation, and a $355M Series C (May 2026) led by Redpoint Ventures and General Catalyst at a $4.65B valuation, with the company reporting it surpassed $300M in annualized revenue.

Founded

2021

Headquarters

New York City, United States

Sector

infrastructure