Modal Raises $16M in Series A
Modal has successfully raised $16M in a Series A at a $100M valuation led by Redpoint Ventures, Amplify Partners, BoxGroup.
Company Overview
Modal is a Cloud Infrastructure company headquartered in 548 Market Street, San Francisco, CA 94104, founded in 2021 with 30+ employees.
Serverless cloud for data/ML teams
Fundraising Details
- Amount Raised: $16M
- Round Type: Series A
- Valuation: $100M
- Date: 2024-04-16
- Investors: Redpoint Ventures, Amplify Partners, BoxGroup
About Modal
Serverless cloud for data/ML teams The company is positioned in the Cloud Infrastructure sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: 548 Market Street, San Francisco, CA 94104
- Founded: 2021
- Team Size: 30+
- Industry: Cloud Infrastructure
What This Means
This funding round demonstrates strong investor confidence in Modal's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The Cloud Infrastructure sector continues to attract significant investment as companies innovate to meet evolving market demands. Modal's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $100M valuation marks an important milestone for Modal, positioning the company among notable players in the Cloud Infrastructure industry.
Looking Ahead
With this new capital, Modal is well-positioned to execute on its growth strategy and continue building innovative solutions in the Cloud Infrastructure space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
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This fundraising news was reported on 2024-04-16. For more information about Modal, visit their headquarters at 548 Market Street, San Francisco, CA 94104.
