capital · May 20, 2026
Modal Labs Hits 9-Figure ARR After Raising $87M Series B at $1.1B Valuation
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Modal Labs posted a job opening for Member of Technical Staff - Product (Growth) on May 19, 2026 confirming the company has hit 9-figure ARR. Modal recently completed a Series B funding round at a $1.1B post-money valuation with participation from Lux Capital, Redpoint Ventures, Amplify Partners, and Elad Gil. The company maintains offices in NYC, SF, and Stockholm while serving thousands of customers including Lovable, Scale AI, Substack, and Suno with instant GPU access and sub-second container startups. Total capital raised reached $111M following the Series B led by Lux Capital in September 2025. Modal provides infrastructure for training models, batch jobs, and low-latency inference.