Modal Labs
AI Infrastructure
- Valuation
- $4.65B post-money(May 2026)
- Total Funding
- $67M
- Profit Status
- Pre-profit;usage-based revenue
- Employees
- ~50
About Modal Labs
Modal is a serverless cloud platform built specifically for AI and ML workloads. Developers define Python functions with decorators and Modal handles GPU provisioning, container building, scaling, and scheduling automatically. There is no infrastructure to manage — an LLM fine-tuning job or a diffusion model inference endpoint can be deployed in minutes. Modal is especially popular for running batch AI jobs, hosting ML model APIs, and fine-tuning open-source models without DevOps overhead.
Company History
Founded 2021 by Erik Bernhardsson (ex-Spotify ML infrastructure lead) and Akshat Bubna. Launched 2022. Grew rapidly by offering the simplest GPU cloud experience for Python developers. Raised Series B in 2024. Became a favourite among AI researchers and startups for running diffusion models, fine-tuning LLMs, and batch inference at scale.
Company Timeline
4 milestones- 2021Founded by Erik Bernhardsson (ex-Spotify) and Akshat Bubna
- 2022Public launch; Python-native serverless GPU cloud
- 2023Rapid adoption among AI researchers and startups; Series A
- 2024Series B $67M; Modal Sandboxes for code execution; 50K+ developers
Products & Services
5- Modal Serverless GPU Cloud
- Modal Functions (Python decorators)
- Modal Volumes
- Modal Web Endpoints
- Modal Sandboxes
People & ecosystem
Key People
- Erik Bernhardsson (CEO / Co-founder)
- Akshat Bubna (Co-founder)
Key Investors
- Redpoint Ventures
- Unusual Ventures
- Nat Friedman
- Daniel Gross
Competitive Landscape
- Replicate
- RunPod
- Lambda Labs
- Beam Cloud
- Banana Dev