Modal Labs
Serverless cloud platform for AI, ML, and data workloads.
AI
📍 New York, NY
Founded 2021
Current Valuation
$1.1B
as of 2025-Q3
UNICORN
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.
Company Profile
Last Round
Series B — $60M (Oct 2025) · Lead: Lux Capital
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
AIInfrastructureServerlessUnicornDeveloper 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.