Series C · Developer Tools · Stockholm, Sweden · Founded 2021 · 151–200 employees
Modal is an AI-native serverless cloud compute platform that lets developers scale AI workloads from zero to thousands of GPUs in seconds, with usage-based pricing and sub-second container cold starts. Founded in 2021 by Erik Bernhardsson (ex-Spotify) and Akshat Bubna, the company builds its own underlying infrastructure including custom file systems, container runtimes, and GPU snapshotting technology. Modal serves customers across generative AI inference, LLM fine-tuning, reinforcement learning, computational biotech, and media processing — including DoorDash, Suno, Cognition, and Physical Intelligence. In May 2026, Modal raised a $355M Series C at a $4.65B valuation led by General Catalyst and Redpoint, with Menlo, Bain Capital Ventures, and Accel joining as new investors. The company has crossed $300M in annualized revenue after a fivefold growth surge and has powered over 1 billion isolated container sandboxes.