Serverless cloud platform for AI, ML, and data workloads.
Modal Labs provides serverless cloud infrastructure tuned for AI inference, ML training, and batch data workloads — letting developers run Python functions on GPUs without managing servers. Founded in 2021 by Erik Bernhardsson (ex-Spotify, Better.com) and Akshat Bubna. Raised an $87M Series B in September 2025 led by Lux Capital at a $1.1B post-money valuation; reportedly in talks for a $2.5B follow-on led by General Catalyst.
AI📍 New York, NYFounded 2021
Current Valuation
$1.1B
as of 2025-Q3
UNICORN
QL Price
$14B
+207% vs last round
QuantLogix's current estimate for Modal Labs, published 2026-10-17 — above the last disclosed round of $4.7B (2026-09).
Confidence
medium
Basis
secondary led
What backs this price
Last disclosed round
$4.7B
2026-09
weight 0.92
Secondary market print
$31B
2026-06-27
weight 0.51
This price sits more than 100% away from the last disclosed round. Past a 2× repricing off a single secondary print, the likeliest explanation is that the print and the round describe different share classes rather than a genuine move. It is published and graded like every other price, but treat it with more care.
How this price has held up
No round has priced for Modal Labs since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-10-17 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Modal Labs, 2026-10-17 (9b53a4c1c726efb8).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Modal Labs going public?
No. Modal Labs is private and has not filed to go public. There is no S-1 on file.
What is Modal Labs' valuation in 2026?
Modal Labs is valued at $1.1B as of 2025-Q3, set by its Series B ($59.68M, Oct 2025). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Modal Labs has raised $111M in total, most recently a Series B of $59.68M in Oct 2025.
Is Modal Labs publicly traded — can you buy Modal Labs stock?
No. Modal Labs is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Modal Labs on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Erik Bernhardsson
Founded
2021
HQ
New York, NY
Employees
~80
Total Raised
$111M
Last Round
Series B — $59.68M (Oct 2025) · Lead: Lux Capital
IPO Status
private
Fundraising Status
Series B · $59.68M · 1y ago
privateTotal raised $111M
Secondary Market
Implied price / share
$140.24
Last round price / share
$20.74
vs last round
+576.2%
Open interest
3
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series B
$59.68M
Oct 2025
Lux Capital
—
Vertical Intelligence — AI / ML
Open models
15
verified organization
Downloads (30d)
13,854
across all models
Followers
85
Top model
Kimi-K3-DFlash
4,380 downloads / 30d
Attributed to Hugging Face organization "Modal" as of 2026-10-12. Open-weights footprint only — closed-model usage is not publicly measurable. Verify on Hugging Face ↗
Talent Signal
Hiring trend
▲ Hiring uptrend
+34% vs 2026-09
Open roles
43
via ashby
Product-build share
40%
engineering, research, product, design
Trajectory
expanding
balanced build + GTM — 40% builders vs 60% go-to-market/G&A — scaling both sides.
No tracked executive churn; open roles trending up.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Forward Deployed Engineer - MLForward Deployed Engineer - SystemsDeveloper Relations EngineerMember of Design Staff - BrandMember of Technical Staff - Product (Backend)Member of Technical Staff - Platform Engineering
Counted from Modal Labs's live job board as of 2026-10-16; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Erik BernhardssonAkshat Bubna
Investors
Lux Capital · Redpoint Ventures · Amplify Partners · Definition Capital · CapitalG
Products
Modal serverless GPU platform
Modal Sandboxes
Modal Functions
Competitors
Replicate · RunPod · Together AI · Anyscale · Baseten · AWS Lambda
AIInfrastructureServerlessDeveloper Tools
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q3. Refreshed quarterly.