On May 21, 2026, Modal Labs (modal.com), an AI-native cloud infrastructure company, announced the completion of a $355 million Series C funding round, bringing its post-money valuation to $4.65 billion. This represents a more than fourfold increase from its $1.1 billion Series B valuation in September 2025, making it a new unicorn in the AI infrastructure field.
This round was led by Redpoint Ventures and General Catalyst, with participation from Accel, Menlo Ventures, and others. The funds will be used to expand low-latency inference capabilities, optimize reinforcement learning training processes, and expand the global team.
Founded by Erik Bernhardsson and headquartered in New York and San Francisco, Modal Labs focuses on serverless GPU computing platforms, providing AI developers with on-demand GPU computing power and serverless infrastructure to simplify AI inference deployment. Its platform supports second-level elastic scaling, adapting to scenarios such as model fine-tuning and real-time inference, serving companies and AI labs like DoorDash and Suno.
The company has experienced rapid growth, with annualized revenue surging from $60 million in September 2025 to $300 million, a fivefold increase reflecting market demand. Its previous funding history is clear: $7 million in seed funding in 2022, $16 million in Series A funding in 2023, $87 million in Series B funding in September 2025, bringing its total funding to over $466 million.
Modal’s explosive growth reflects the booming AI infrastructure sector. The widespread adoption of AI coding tools is driving a surge in enterprise demand for high-performance, easily deployable computing power, making serverless GPU platforms a necessity in the industry.
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