Modal's Series C: Raising $355M at a $4.65B valuation
Modal has successfully raised $355 million in a Series C funding round, achieving a post-money valuation of $4.65 billion. The company has experienced significant growth, surpassing $300 million in annualized revenue since September. Modal aims to provide a cloud platform specifically designed for AI workloads, offering developers the necessary tools to build a wide range of applications.
- ▪Modal raised $355 million in a Series C funding round led by General Catalyst and Redpoint.
- ▪The company has grown fivefold since September, surpassing $300 million in annualized revenue.
- ▪Modal is designed as a cloud platform for AI workloads, providing developers with essential tools for various applications.
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All posts Back News May 21, 2026•3 minute read Modal's Series C: Raising $355M at a $4.65B valuation We’ve raised $355 million after growing fivefold since September, surpassing $300 million in annualized revenue. Our valuation is $4.65B post-money in a round led by General Catalyst and Redpoint, with Menlo, Bain Capital Ventures, and Accel joining as new investors. All our existing major investors participated as well, doubling down on their conviction in Modal. A new infrastructure layer for the AI eraWe started Modal because the cloud built for traditional web applications was never going to fit AI workloads. This was clear to us before the GenAI revolution and it becomes even more true as models and techniques advance.Modal is a cloud built for AI.
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