When was Modal founded?

Modal was founded in 2021 and became a unicorn in 2025, reaching the milestone in 4 years. It raised its 1st funding round 1 year after its incorporation.

Where is Modal located?

Modal is headquartered in New York City, United States. It is registered at Daugavpils, Vienības iela 7 - 6.

How many employees does Modal have?

As of Aug 31, 2026, the latest employee count at Modal is 231.

Is Modal a funded company?

Modal is a funded company, having raised a total of $466M across 4 funding rounds to date. The company's 1st funding round was a $7M Seed round, raised on 2022.

How much is Modal worth?

The latest valuation of Modal is $4.65B as of May 21, 2026.

When was the latest funding round of Modal?

Modal's latest funding was a $355M Series C round on May 21, 2026, with participation from 5 investors. Its primary sector is PaaS. In United States, the PaaS sector has seen $1.98B in funding in 2026 to date.

Is Modal a PaaS company?

The primary sectors of Modal are PaaS, AI Infrastructure and Artificial Intelligence.

Where does Modal rank among its competitors?

Modal ranks 3rd amongst 335 active competitors, of which 36 are funded. It stands 3rd in terms of total funding among its competitors. The most recent competitor to raise funding was Modal, which secured $355M in May, 2026.

Who are the top competitors of Modal?

Modal's top competitors include Netlify, Blaize and SenseTime. Among them, Modal secured the most recent funding round in May, 2026.

Modal - 2026 Company Profile, Team, Funding & Competitors

Sectors and market segments that Modal operate in

Modal serves in the High Tech, Native AI market segments.The primary business model of Modal are:

Company Details

Provider of serverless platform for developing and deploying AI applications. The platform offers tools for scaling machine learning inference, data processing, and other compute-intensive tasks. It provides features such as autoscaling, container management, and integration with cloud storage solutions. The platform supports various use cases, including generative AI, fine-tuning, and batch processing.

Website: modal.com
Social
Email ID: *****@modal.com
Registered Address: Daugavpils, Vienības iela 7 - 6

Key Metrics

Founded Year

2021

Location

New York City, United States

Stage

Series C

Total Funding

$466M in 4 rounds

Latest Funding Round

Series C, May 21, 2026, $355M

Post Money Valuation

$4.65B as on May 21, 2026

Investors

Redpoint Ventures & 14 more

Ranked

3^rd among 335 active competitors

Employee Count

231 as on Aug 31, 2026

Similar Companies

Netlify & 418 more

View Modal's full profile

Modal is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
MODAL LABS, INC. CIN: 6401999 , United States, Active	Feb 10, 2022	-	-	-
MODA L CIN: 41503030296 , Latvia, Active	Jul 10, 2002	€0 - €1M (As on Dec 31, 2024)	2 (As on Dec 31, 2023)	-

Modal has raised a total funding of $466M over 4 rounds. Its first funding round was on 2022. Its latest funding round was a Series C round on May 21, 2026 for $355M. 5 investors participated in its latest round. Modal has 12 institutional investors and 3 angel investors.

Here is the list of recent funding rounds of Modal:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
May 21, 2026	$355M	Series C	$4.65B	-	General Catalyst, Redpoint Ventures	Menlo Ventures, Bain Capital Ventures, Accel
Jul 31, 2025	$87M	Series B	$1.1B	-	Lux Capital	-
Jun 23, 2023	$16.5M	Series A	-	-	Redpoint Ventures	Amplify, Lux Capital, Definition, Tristan Handy, Jeff Hammerbacher

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View details of Modal's funding rounds and investors

The founders of Modal is Akshat Bubna.

Here are the details of Modal's key team members:

Akshat Bubna: Co-Founder & CTO of Modal. They are also an angel investor in 1 startup.
Contact Info: 1 email address

View details of Modal's Founder profiles and Board Members

Modal's employee count trend

Modal has 231 employees as of Aug 26. Here is Modal's employee count trend over the years:

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Top competitors of Modal include Netlify, Blaize and SenseTime. Here is the list of Top 10 competitors of Modal, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Netlify 2013, San Francisco (United States), Series D	Provider of a platform for web application development and deployment	$212M	EQT, Kleiner Perkins & 21 others	84/100
2nd	Blaize 2010, El Dorado Hills (United States), Public	Developer of hardware and software solutions optimizing artificial intelligence applications	$136M	Temasek, DENSO & 24 others	76/100
3rd	Modal 2021, New York City (United States), Series C	Provider of serverless platform for developing and deploying AI applications	$466M	Redpoint Ventures, Amplify Partners & 13 others	69/100
4th	SenseTime 2014, Hong Kong (China), Public	AI based platform offering image recognition solutions	$2.82B	CDH, IDG Capital & 66 others	68/100
5th	Amazon Web Services 2006, Seattle (United States), Funding Raised	Provider of cloud computing services, including infrastructure, AI, and data solutions	-	Startupmoldova, Tigerlabs & 6 others	65/100
6th	QpiAI 2019, Bengaluru (India), Series A	Developer of integrated quantum computing hardware and artificial intelligence software	$54.1M	Famy Ananta, SIDBI Venture Capital & 39 others	63/100
7th	MangoBoost 2022, Bellevue (United States), Series B	Developer of data processing unit solutions for scalable data centers	$72.5M	IMM Investment, Shinhan Venture Investment ... & 11 others	62/100
8th	Pivotal Software 2013, San Francisco (United States), Acquired	Enterprise platform as a service	$1.7B	Ford, EMC & 6 others	60/100
9th	Microsoft Azure 2010, Redmond (United States), Unfunded	Provider of cloud computing services, databases, AI, and application development	-	-	54/100
10th	Robin Systems 2013, San Jose (United States), Acquired	Platform offering container storage software	$86M	Clear Ventures, USAA & 12 others	54/100