Modal

Modal, founded in 2021, reached a $1.1 billion valuation in October 2025 after completing an $87 million Series B round. The company has raised $103 million across Seed, Series A, and Series B funding rounds. Backed by Lux Capital and Creandum, Modal provides a serverless platform for building and scaling AI applications, supporting inference, fine tuning, and batch processing. With growing adoption of generative AI workloads, Modal is scaling infrastructure to meet increasing developer and enterprise demand.