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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

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.
Has Modal Labs filed an S-1?
No public S-1 is on file for Modal Labs.
Who are Modal Labs' investors?
Modal Labs' investors include Lux Capital, Redpoint Ventures, Amplify Partners, Definition Capital, CapitalG.
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.
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

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 · 10 mo 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
Last round vs current secondary price per share$20.74Last round$140Current
Secondary price return by period
Secondary market period returns3-month+34.1%6-month+725%1-year+778%All-time+790%
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

RoundAmountDateLead InvestorPost-Money
Series B$59.68MOct 2025Lux Capital—

Vertical Intelligence — AI / ML

Open models
12
verified organization
Downloads (30d)
19,002
across all models
Followers
68
Top model
Kimi-K3-DFlash
7,925 downloads / 30d
Attributed to Hugging Face organization "Modal Labs" as of 2026-08-19. Open-weights footprint only — closed-model usage is not publicly measurable. Verify on Hugging Face ↗

Talent Signal

Hiring trend
● First snapshot
trend accrues with monthly sweeps
Open roles
30
via ashby
Product-build share
50%
engineering, research, product, design
Trajectory
steady
product-led hiring — 50% of open roles build product; the rest are go-to-market and G&A.
Actively hiring with no tracked executive churn.
Open roles by month
Open roles by month30Aug '26
Open roles by function
Open roles by functionEngineering11Other5Sales & GTM4Ops & People3Research3Marketing2Finance & Strategy1Security1
■ product-building   ■ go-to-market / G&A
Forward Deployed Engineer - MLCustomer EngineerForward Deployed Engineer - SystemsDeveloper Relations Engineer, SandboxesDeveloper Relations EngineerMember of Technical Staff - Product (Backend)
Counted from Modal Labs's live job board as of 2026-08-17; 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
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.