Why Modal matters
Modal raises a $355M Series C at a $4.65B post-money valuation on May 21, 2026, led by General Catalyst and Redpoint with Menlo, Bain Capital Ventures and Accel joining. CEO Erik Bernhardsson tells Reuters annual recurring revenue is about $300M, up from roughly $60M in September 2025. The valuation is more than four times the $1.1B set at its September 2025 Series B.
The numberRaised $355M Series C at a $4.65B valuation on May 21, 2026, with ARR of about $300M
On The Agentic 80
Listed under Agent frameworks and infrastructure. What agents are built on: orchestration, tools, memory, evals, sandboxes.
On The All Things AI 100
Listed under Model platforms and developer tools. Where models are hosted, served, and turned into applications.
Quick answers
- What does Modal do?
- Serverless GPU and CPU cloud for running AI inference, training, batch jobs and agent sandboxes. Modal raises a $355M Series C at a $4.65B post-money valuation on May 21, 2026, led by General Catalyst and Redpoint with Menlo, Bain Capital Ventures and Accel joining.
- What AI capabilities does Modal offer?
- Modal provides a serverless cloud for running AI and data workloads. Customers use it to deploy model inference endpoints, fine-tune and train models on GPUs, run batch jobs, and host isolated sandboxes for coding agents. It supplies CPU and GPU compute, storage, and scheduling so teams can ship custom AI applications without managing clusters.
- Why is Modal on The Agentic 80?
- Modal is listed under Agent frameworks and infrastructure. What agents are built on: orchestration, tools, memory, evals, sandboxes. Raised $355M Series C at a $4.65B valuation on May 21, 2026, with ARR of about $300M.
- Why is Modal on The All Things AI 100?
- Modal is listed under Model platforms and developer tools. Where models are hosted, served, and turned into applications. Raised $355M Series C at a $4.65B valuation on May 21, 2026, with ARR of about $300M.
- Where is Modal based, and who owns it?
- Modal is based in New York, NY, was founded in 2021 and is private, Series C.