Modal joined the Unicorn Club on October 01, 2025, reaching a $1.1 billion valuation. Headquartered in New York City, New York, United States, Modal provides a serverless platform for developing, deploying, and scaling artificial intelligence applications.
The platform enables teams to run machine learning inference, fine tuning, batch processing, and compute intensive workloads with automatic scaling and simplified infrastructure management.
Keep reading to learn how Modal scaled into a leading AI infrastructure unicorn.
What Is Modal and What Does It Do?
Founded in 2021, Modal is a platform as a service company focused on serverless infrastructure for AI and machine learning workloads. The platform allows developers and data teams to deploy AI applications without managing servers, containers, or scaling logic.
Modal supports use cases such as generative AI, large scale inference, fine tuning, and data processing. Its platform integrates autoscaling, container orchestration, and cloud storage to simplify AI application development and production deployment.
How Much Funding Has Modal Raised?
1. Series A Round
- Amount Raised: $16 million
- Date: 2023
- Lead Investors: Lux Capital
- Participating Investors: Creandum
- Purpose: Expand core platform capabilities, support enterprise use cases, and grow the engineering team
2. Series B Round
- Amount Raised: $87 million
- Date: July 2025
- Valuation: $1.1 billion
- Lead Investors: Lux Capital, Creandum
- Purpose: Scale global infrastructure, support generative AI workloads, and expand enterprise adoption
Total Funding Raised: $103 million Latest Funding Date: July 2025 Latest Known Valuation: $1.1 billion
Key Investors
- Lux Capital
- Details: Venture capital firm investing in frontier and deep technology companies
- Focus Areas: Artificial intelligence, infrastructure, and scientific innovation
- Creandum
- Details: Early stage venture capital firm backing technology driven startups
- Focus Areas: SaaS platforms, developer tools, and AI infrastructure
Where Is Modal’s Headquarters?
Modal is headquartered in New York City, New York, United States, supporting its engineering, product, and platform operations teams.
What’s Next for Modal?
Modal plans to expand its serverless AI infrastructure, enhance autoscaling and orchestration capabilities, and support increasingly complex generative AI and machine learning workloads. The company aims to grow enterprise adoption, improve performance for large scale inference, and strengthen integrations across the AI development ecosystem.
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