# Modal Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modal-labs

- Industry: Software
- Headquarters: New York, US
- Website: www.modal.com/
- Total disclosed funding: $1B
- Latest round: Series D (Oct 14, 2026)
- Investors on record: 12

## About

Based in New York, US, and founded in 2021 by co-founder and CEO Erik Bernhardsson, Modal Labs, Inc., formerly known as Polyester, Inc, operates as a provider of an online platform for developers, allowing them to run code in the cloud. In September 2026, Modal Labs, Inc. is raising USD 750 million in venture funding led by Accel. The company provides a cloud-based platform that allows developers to run any code remotely, define container environments in code, scale up horizontally to thousands of containers, deploy and monitor persistent cron jobs, attach GPUs with a single line of code, serve functions as web endpoints, use powerful primitives like distributed dictionaries and queues, and more. The platform serves multiple customers, with applications ranging from generative AI to biotech and 3D rendering.

Modal Labs generates revenue from the subscription of its platform packages, which include organization (USD 100 compute per month) and enterprise (custom pricing). The company plans to use its proceeds from September 2025 funding to expand its computing infrastructure engineers to deploy artificial intelligence systems efficiently.

## Funding rounds

- Series D, Oct 14, 2026, $750M — Accel, Amplify Partners, Bain Capital Ventures, General Catalyst, Kleiner Perkins, Lux Capital, Menlo Ventures, Redpoint Ventures
- Series C, May 15, 2026, $175M — Accel, Menlo Ventures, Redpoint Ventures, Bain Capital, General Catalyst Partners, Anti Fund
- Series B, Sep 29, 2025, $80M — Redpoint Ventures, Lux Capital, Amplify Partners
- Series A, Oct 10, 2023, $16M — Redpoint Ventures, Lux Capital, Amplify Partners, Definition Capital
- Seed, Jan 1, 2022, $7M — Amplify Partners

## Investors

- Amplify Partners (https://capitalatlas.ai/funds/amplify-partners) — Seed, Series A, Series B, Series D
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series A, Series B, Series C, Series D
- Lux Capital (https://capitalatlas.ai/funds/lux-capital) — Series A, Series B, Series D
- Definition Capital (https://capitalatlas.ai/funds/definition-capital) — Series A
- Accel (https://capitalatlas.ai/funds/accel) — Series C, Series D
- Menlo Ventures (https://capitalatlas.ai/funds/menlo-ventures) — Series C, Series D
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series C
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series C
- Anti Fund (https://capitalatlas.ai/funds/anti-fund) — Series C
- Bain Capital Ventures — Series D
- General Catalyst — Series D
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series D