Modal Labs

Modal Labs is a serverless GPU cloud built for AI and data workloads, letting developers spin up containerized functions on Nvidia hardware billed by the CPU cycle rather than by the reserved instance. Founded in 2021 by Erik Bernhardsson (formerly of Spotify and Better.com) and Akshat Bubna, the company sits in the mid-market inference and fine-tuning slice of the neocloud landscape, competing less with the hyperscale training clouds like CoreWeave and Crusoe and more with Replicate, Baseten, and RunPod for the developer-facing long tail.\n\nRather than owning campuses, Modal operates as a software layer over rented GPU capacity, with a proprietary container stack that advertises sub-second cold starts and per-second billing. Its published on-demand rate card runs from $0.59/hr on a T4 up to $6.25/hr on a B200 and $7.10/hr on a B300, and its customer roster leans toward the current generation of AI-native startups: Suno, Runway, Physical Intelligence, Cognition, Lovable, Decagon, Ramp, and Substack all appear as named users, alongside Meta and Scale.\n\nAfter a $16M Series A led by Redpoint in October 2023, Modal was reported by The Information in February 2026 to be in talks to raise at a $2.5B valuation, a step-change that would put it in the mid-tier of the AI-infrastructure funding board without the balance-sheet weight of the campus-owning neoclouds.

Modal Labs has no robot models recorded on the DEPLOY registry. Modal Labs builds physical robots.

No. Modal Labs is privately held and not publicly traded, per the DEPLOY registry.

Erik Bernhardsson is the founder of Modal Labs, per the DEPLOY registry.

Modal Labs is a private company; its shares are not available on public markets, so retail investors cannot buy the stock today. It has raised $16M in disclosed funding.

Modal Labs is headquartered in New York, NY, USA.

Modal Labs has raised approximately $16M in disclosed funding on record in the DEPLOY registry.

Modal Labs is privately held and venture-backed ($16M raised); ownership sits with its founders and private investors.

On DEPLOY's intelligence score, which blends verified deployments, funding, hiring, media, safety, and IP signals, Modal Labs ranks in roughly the top 98% of companies tracked by the registry.

Modal Labs has no incidents on record in the DEPLOY registry. This does not constitute a safety guarantee; it reflects the incidents DEPLOY has tracked and verified to date.