capital · May 22, 2026
Modal raises $355M Series C; revenue hits $300M ARR after 5x growth
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Modal Labs secured $355 million in Series C funding reaching a $4.65 billion valuation. The serverless AI infrastructure startup achieved 5x growth to $300 million annualized revenue in eight months since its prior round. Funds target enhanced low-latency inference, reinforcement learning training, and developer team expansion. Erik Bernhardsson serves as CEO of the New York-based company focused on AI workloads including agent sandboxes and batch jobs.
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