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Total amount raised
$111M
Latest funding date
2025-09-29
Location
Modal Labs has raised a total of $111 million across 3 rounds, backed by notable investors including Lux Capital, Redpoint Ventures, and Amplify Partners. The company specializes in developing machine learning software to help run code in the cloud, focusing on AI infrastructure, cloud data services, and web development.
What Is Modal Labs?
Modal Labs, based in New York, specializes in AI infrastructure, cloud data services, and web development. The company focuses on developing machine learning software to help run code in the cloud.
Founded by Erik Bernhardsson and Akshat Bubna, Modal Labs offers high-performance AI infrastructure with features like sub-second cold starts and instant autoscaling. The company reached unicorn status with its Series B round in September 2025, having raised $111 million in total across three rounds from investors including Lux Capital, Redpoint Ventures, and Amplify Partners.
How Much Funding Has Modal Labs Raised?
- Seed Round
- Amount Raised: USD 7,000,000
- Date: February 2022
- Lead Investors: Amplify Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial AI infrastructure and cloud data services platform.
- Series A Round
- Amount Raised: USD 16,000,000
- Date: October 2023
- Lead Investors: Redpoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's capabilities, grow revenue, and launch features targeting the enterprise market. Participants included Amplify Partners, Lux Capital, and Definition Capital.
- Series B Round
- Amount Raised: USD 87,000,000
- Date: September 2025
- Lead Investors: Lux Capital
- Valuation at Round: USD 1,100,000,000 (post-money)
- Motivation Behind the Round: To scale operations and enhance the AI infrastructure to meet growing market demands, cementing Modal's unicorn status.
Total Amount Raised: USD 111,000,000. Current Valuation: USD 1,100,000,000 (post-money, as of September 2025).
Key Investors
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. Led Modal Labs' $87M Series B round in September 2025.
- Investment Focus Areas: Biotechnology, Energy, Healthcare
- Notable Investments: Auris Health, Kallyope, Shapeways
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm focused on investing in seed, early, and growth-stage companies. Led Modal Labs' $16M Series A round in October 2023.
- Investment Focus Areas: Consumer, Enterprise, Digital media
- Notable Investments: Netflix, Stripe, Twilio
- Amplify Partners
- Details: Amplify Partners is a venture capital firm that invests in early-stage technology companies. Led Modal Labs' $7M seed round in 2022 and participated in the Series A.
- Investment Focus Areas: Infrastructure, Data, Security
- Notable Investments: Datadog, Fastly, Gremlin
What's Next for Modal Labs?
Modal Labs stands at the cusp of significant growth, driven by the booming cloud infrastructure market, particularly in AI, ML, and data analytics. With the market for cloud infrastructure spending projected to reach nearly $1 trillion annually by 2025, the opportunities for Modal Labs are vast. The company aims to capitalize on this by expanding its platform to serve a wide range of applications, from generative AI to computational biotech.
Future fundraising appears promising, given the current excitement around AI and the company's successful Series A round. As Modal Labs continues to grow and meet its milestones, it is well-positioned to attract further investment. However, challenges such as potential economic slowdowns and a cooling fundraising market could pose hurdles. Despite these challenges, the growing demand for cloud and AI solutions may help mitigate these risks, paving the way for continued success.
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