Modal funding rounds & valuation history
Modal (Modal Labs), the New York serverless AI infrastructure company that runs inference, training and sandboxed code on GPUs that spin up in seconds. Funding from the Series B (Sep 2025) to the Series D (Oct 2026), sourced to Modal and TechCrunch.
Round history
Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.
| Date | Status | Round | Amount | Lead / buyer | Valuation | Val. ÷ run-rate | Source |
|---|---|---|---|---|---|---|---|
Closed round |
Series DKleiner Perkins joined; existing investors including Menlo Ventures, General Catalyst, Redpoint and Lux Capital participated. |
$750M |
Accel |
$15.75BPost-money, stated by Modal3.39× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series CMenlo, Bain Capital Ventures and Accel joined as new investors. |
$355M |
General CatalystWith: Redpoint |
$4.65BPost-money, stated by Modal4.23× vs prior closed |
—Not disclosedNo run-rate stated in the announcement |
||
Closed round |
Series B |
$87M |
Lux Capital |
$1.1BPost-money, stated by Modal |
—Not disclosedNo run-rate stated in the announcement |
Valuation at each closed round
Valuations as stated or reported at each closed round with a disclosed figure; talks, tenders and filings are not plotted.
Sources: Modal, TechCrunch. US$ billions, linear scale.
Timeline
Each round and share sale, oldest first.
- 29 Sep 2025 · Closed
Series B: $87M at $1.1B led by Lux Capital.
- 21 May 2026 · Closed
Series C: $355M at $4.65B led by General Catalyst.
- 14 Oct 2026 · Closed
Series D: $750M at $15.75B led by Accel.
Cite this dataset
Free to quote with a link back. Copy this citation:
Modal Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 14 Nov 2026. https://growthnavigatefunding.net/funding/modal/
Download the data
The same 3 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.
- File
modal-rounds.csv(UTF-8, comma-separated)- Stable URL
https://growthnavigatefunding.net/wp-content/uploads/2026/11/modal-rounds.csv- Columns
id,date,date_precision,status,transaction_type,round,amount_usd_low,amount_usd_high,lead_or_buyer,co_leads,valuation_usd_low,valuation_usd_high,valuation_basis,valuation_to_run_rate_multiple,multiple_bound,multiple_basis,step_up_vs_prior_closed,price_per_share_usd_low,price_per_share_usd_high,shares,source,source_url,other_source_urls,notes,last_updated- Updated
- (IST)
Methodology & status definitions
How each row is labelled and calculated.
Closed round
A primary round announced by the company or confirmed in the press, bringing new money to the company.
Valuation ÷ run-rate
Post-money valuation ÷ the run-rate the company stated in that announcement (GNF calc.). Where the run-rate is “crossed” or “over” a figure, the multiple is shown as “under X×”. No row qualifies here unless shown, so no multiple is invented.
What is not a separate row
Seed and Series A rounds, and secondary sales.
Updates & corrections
This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.
Changelog
- : Dataset first compiled (AI-50 batch, not yet published).
Sources
- Modal: Modal crosses $1B in Annualized Run Rate and raises $750M Series D, 14 Oct 2026
- TechCrunch: Source: Inference provider Modal Labs closing in on $750M round at $15.75B valuation, 28 Sep 2026
- Modal: Modal's Series C: Raising $355M at a $4.65B valuation, 21 May 2026
- Modal: Announcing our $87M Series B, 29 Sep 2025