Latest Modal News & Updates

See the latest news and media coverage for Modal. We track all announcements, press releases, and industry mentions in real time, all in one place.

Modal

Serverless AI infrastructure platform

modal.com

Headquarters: New York City, United States
Company type: Private company
Number of employees: 175–200

Last updated Today

Latest news about Modal

In short: Modal Labs raised $355 million in Series C funding at a $4.65 billion valuation and introduced significant infrastructure updates.

Company announcements

May 21 Modal

Modal raised $355 million after fivefold growth

The round values Modal at $4.65B post-money, with General Catalyst and Redpoint leading

April 29 Modal

AE Studio builds RL theorem-proving workflow on Modal

They use GPUs for proof generation, CPU sandboxes for Lean verification, and volumes for model caching. ES matches GRPO performance with lower costs and faster setup.

April 14 Modal

Modal serves as official sandbox provider for OpenAI Agents SDK

They built an ML research agent inspired by Andrej Karpathy that spins up GPU sandboxes, runs subagents, persists memory, and snapshots state.

April 10 Modal

Modal announces Butter acquisition

Butter founder Erik Dunteman and researcher Raymond Tana join Modal Sandbox team. Their expertise enhances Modal Sandboxes with agent engineering and bVisor technology.

Media coverage

June 11 Yahoo Finance

Wall Street’s $800 Billion AI Data Center Bet Is Showing Cracks. Only 84 of 157 Gigawatts Will Be Built by 2030

Although Wall Street has rewarded every hyperscaler willing to pledge more silicon, more concrete,...

May 26 DCD

AI cloud startup Modal Labs raises $355m

Modal Labs, an AI cloud startup based in New York City, has secured $355 million in a Series C funding round. The round saw Modal...

May 25 MSN

Modal Labs valued at $4.65 billion as AI coding takes off

AI startup Modal raised $355 million in a new round of financing, valuing the company at $4.65 billion, CEO Erik Bernhardsson told Reuters. AI startups...

May 21 Reuters

Exclusive: Modal Labs valued at $4.65 billion as AI coding takes off

AI startup Modal raised $355 million in a new round of financing, valuing the company at $4.65 billion, CEO Erik Bernhardsson told Reuters.

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