Modal

Modal Labs, founded in 2021 by Erik Bernhardsson and Akshat Bubna, is a New York City-based company specializing in serverless AI infrastructure. Their platform enables developers to run machine learning models, large-scale batch jobs, and web applications without managing underlying infrastructure. By abstracting the complexities of cloud computing, Modal Labs allows users to focus on application development while ensuring efficient resource utilization.

The company's flagship product, Modal Functions, transforms Python functions into scalable cloud workloads with sub-second cold starts. This service supports both CPU and GPU resources, facilitating rapid deployment and scaling of machine learning applications. Additionally, Modal Containers offer isolated execution environments for long-running or stateful workloads, eliminating the need for manual Docker configurations. These products are designed to streamline the development process, enabling teams to deploy applications faster and more efficiently.

Modal Labs has attracted significant investment, securing a $355 million Series C funding round in May 2026, valuing the company at $4.65 billion. This followed a $16 million Series A in October 2023 and an $87 million Series B in September 2025. The funding rounds were led by prominent venture capital firms, including Redpoint Ventures, Lux Capital, and General Catalyst. These investments underscore the growing demand for scalable AI infrastructure solutions and Modal Labs' position in the market.

The company's clientele includes organizations such as Ramp, Figma, Runway, and PostHog, indicating a strong presence in the tech industry. Modal Labs competes with other cloud infrastructure providers like Amazon Web Services (AWS) and Google Cloud Platform (GCP), offering specialized services tailored for AI and machine learning workloads. Their focus on developer experience and efficient resource management distinguishes them in the competitive landscape of AI infrastructure providers.