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Total amount raised
$465 Million
Latest funding date
2026-05-21
Location
Modal Labs has raised a total of $466 million across 4 rounds, backed by notable investors including General Catalyst, Lux Capital, Redpoint Ventures, and Amplify Partners. The company specializes in developing machine learning software to help run code in the cloud, focusing on AI infrastructure, cloud data services, and web development.
What Is Modal Labs?
Modal Labs, based in New York, specializes in AI infrastructure, cloud data services, and web development. The company focuses on developing machine learning software to help run code in the cloud.
Founded by Erik Bernhardsson and Akshat Bubna, Modal Labs offers high-performance AI infrastructure with features like sub-second cold starts and instant autoscaling. The company reached unicorn status with its Series B round in September 2025, and in May 2026 it raised a $355 million Series C at a $4.65 billion post-money valuation, bringing its total to $465 million across four rounds from investors including General Catalyst, Lux Capital, Redpoint Ventures, and Amplify Partners.
How Much Funding Has Modal Labs Raised?
- Seed Round
- Amount Raised: USD 7,000,000
- Date: February 2022
- Lead Investors: Amplify Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial AI infrastructure and cloud data services platform.
- Series A Round
- Amount Raised: USD 16,000,000
- Date: October 2023
- Lead Investors: Redpoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's capabilities, grow revenue, and launch features targeting the enterprise market. Participants included Amplify Partners, Lux Capital, and Definition Capital.
- Series B Round
- Amount Raised: USD 87,000,000
- Date: September 2025
- Lead Investors: Lux Capital
- Valuation at Round: USD 1,100,000,000 (post-money)
- Motivation Behind the Round: To scale operations and enhance the AI infrastructure to meet growing market demands, cementing Modal's unicorn status.
- Series C Round
- Amount Raised: USD 355,000,000
- Date: May 21, 2026
- Lead Investors: General Catalyst and Redpoint Ventures
- Valuation at Round: USD 4,650,000,000 (post-money)
- Motivation Behind the Round: To continue building out Modal's AI infrastructure platform, with Menlo Ventures, Bain Capital Ventures, and Accel joining as new investors.
Total Amount Raised: USD 465,000,000. Current Valuation: USD 4,650,000,000 (post-money, as of May 2026). As of September 2026, the company's latest disclosed round is its May 2026 Series C.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm investing across early and growth stages. Co-led Modal Labs' $355M Series C round in May 2026.
- Investment Focus Areas: Enterprise software, Consumer, Health
- Notable Investments: Stripe, Snap, HubSpot
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. Led Modal Labs' $87M Series B round in September 2025.
- Investment Focus Areas: Biotechnology, Energy, Healthcare
- Notable Investments: Auris Health, Kallyope, Shapeways
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm focused on investing in seed, early, and growth-stage companies. Led Modal Labs' $16M Series A round in October 2023 and co-led the $355M Series C in May 2026.
- Investment Focus Areas: Consumer, Enterprise, Digital media
- Notable Investments: Netflix, Stripe, Twilio
- Amplify Partners
- Details: Amplify Partners is a venture capital firm that invests in early-stage technology companies. Led Modal Labs' $7M seed round in 2022 and participated in the Series A.
- Investment Focus Areas: Infrastructure, Data, Security
- Notable Investments: Datadog, Fastly, Gremlin
What's Next for Modal Labs?
Modal Labs closed a $355 million Series C on May 21, 2026 at a $4.65 billion post-money valuation, co-led by General Catalyst and Redpoint Ventures, with Menlo Ventures, Bain Capital Ventures, and Accel joining as new investors. The capital is directed at expanding the company's AI infrastructure platform, which provides sub-second cold starts and instant autoscaling for workloads spanning generative AI, data processing, and computational biotech.
The Series C follows the $87 million Series B of September 2025, which valued Modal at $1.1 billion, and brings total primary funding to $465 million across four rounds. Modal remains privately held, with Amplify Partners, Lux Capital, and Redpoint Ventures continuing as backers from its earlier rounds.
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