Modal Raises $87 Million Series B at $1.1 Billion Valuation

Modal, the AI infrastructure startup co-founded by Erik Bernhardsson (CEO) and Akshat Bubna (CTO), has raised $87 million in a Series B funding round, bringing the company’s valuation to $1.1 billion. The round was led by Lux Capital and included participation from existing investors Redpoint and Amplify Partners. Previous funding rounds brought Modal’s total capital raised to $111 million.

The Series B financing will support the continued development and scaling of Modal’s computing platform, which is designed to efficiently handle resource-intensive workloads. Bernhardsson described the platform as “a massive, elastic fleet of GPUs & CPUs, a container engine with sub-second boots, a custom globally distributed file-system, a code-first interface that developers love, and more.” He emphasized that the platform was built to meet the needs of AI-native companies and to accelerate the deployment of complex workloads.

Bernhardsson highlighted the rationale behind building the platform from the ground up, stating, “Why did we build an entire infra stack from scratch? It was the only way to 10x the velocity of shipping AI products to production scale.”

Infrastructure Designed for Complex Workloads

Modal’s platform enables developers to deploy computing resources globally with minimal manual configuration. Containers start in under a second, and resources are allocated automatically according to demand. This architecture enables teams to execute high-volume projects, such as reinforcement learning environments, media processing pipelines, and other data-intensive workloads, with fewer operational constraints.