About Modal
Modal gives software teams computing capacity to build and run artificial intelligence applications. Its cloud platform supports development, training and serving at scale. Developers also use the service for data and machine-learning work.
Modal Labs, Inc.'s address is 233 Spring Street in New York. Erik Bernhardsson is chief executive officer.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Oct 1, 2026 | Oct 20, 2026 | $601,892,375of $800.0M target | 18 | $33.4M | EquityRule 506(b) | Form D ↗ |
| May 15, 2026 | Aug 31, 2026 | $175,277,185of $175.3M target | 17 | $10.3M | EquityRule 506(b) | Form D ↗ |
| Apr 14, 2026 | Aug 31, 2026 | $204,889,993of $204.9M target | 41 | $4.9M | EquityRule 506(b) | Form D ↗ |
| Jul 31, 2025 | Oct 29, 2025 | $59,681,908of $94.4M target | 68 | $877K | EquityRule 506(b) | Form D ↗ |
| Jun 23, 2023 | Oct 29, 2025 | $16,495,842of $17.9M target | 16 | $1.0M | EquityRule 506(b) | Form D ↗ |
| Total, five offerings | $1,058,237,303 | |||||
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Rounds announced by Modal
What the company said publicly about its funding. Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.
| Announced | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Oct 14, 2026 | Late-stage funding | $750 million | SiliconANGLE ↗ | |
| May 21, 2026 | Funding round | $355 million | SiliconANGLE ↗ |
Why Investors Backed Modal
Modal sells cloud infrastructure for production artificial intelligence work. Its platform covers application development, training and serving. Modal's stated goal is to make cloud computing available to all developers.
The problem it targets
Modal frames the problem as access to scalable computing infrastructure. It aims to make cloud capacity available to all developers. The company focuses that aim on teams that develop, train and serve AI applications.
What the product does
Modal offers infrastructure as a service for developers building data, artificial intelligence and machine-learning applications. The service helps them build applications faster. Teams can use it for development, training and serving at scale.
Progress so far
Modal has raised more than $1.2 billion.
We wrote this summary from public statements by Modal and its investors. It is not investment advice.
Modal in the News
- AI Firm Modal Labs Takes 157K SF at Rudin’s 32 Avenue of the Americas
- AI startup Modal Labs inks 157K sf lease at Rudin’s 32 Sixth Avenue
- Modal CEO Erik Bernhardsson: 'no sign of slowing down' after $750 million raise
- Modal CEO Erik Bernhardsson- 'No Sign of Slowing Down' After $750 Million Raise
- Source: Inference provider Modal Labs closing in on $750M round at $15.75B valuation
- Startups Modal, Baseten in Funding Talks to Help Businesses Run AI
- OpenAI Models Compromised a Customer at a Second Tech Firm
Leadership Team
Executive officers and directors listed on Modal's Form D filed Oct 20, 2026.