capital · May 22, 2026

Modal raises $355M at $4.65B valuation with General Catalyst and Redpoint

Modal, the New York City-based AI-native cloud compute and serverless container platform, raised $355 million in Series C funding at a $4.65 billion post-money valuation. General Catalyst and Redpoint led the round with new investors Menlo Ventures, Bain Capital Ventures, and Accel joining alongside existing backers. The funding supports expansion of low-latency inference, reinforcement learning infrastructure, and GPU sandboxing systems while growing engineering teams in New York, San Francisco, and Stockholm. Co-founders Erik Bernhardsson and Akshat Bubna lead the company, which has now raised approximately $466 million total.