Modal has secured $355 million in Series C funding, valuing the company at $4.65 billion post-money. The company has experienced significant growth, with annualized revenue surpassing $300 million and a fivefold increase in size since September. This funding will support Modal's mission to provide a cloud infrastructure specifically designed for AI workloads, offering elastic compute, safe isolation, and programmatic control for diverse applications. AI
IMPACT Accelerates development of specialized cloud infrastructure for AI, potentially lowering costs and improving performance for AI workloads.
RANK_REASON Significant funding round for an AI infrastructure company. [lever_c_demoted from significant: ic=1 ai=0.7]
- Accel
- Bain Capital Ventures
- Chai Discovery
- DeepSeek
- DoorDash
- General Catalyst
- Menlo
- Modal
- Qwen
- Ramp
- Redpoint
- SGLang
- Suno
- vLLM
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