Modal Raises $16M Series A

Serverless computing platform for running Python code in the cloud with focus on ML and data processing workloads

Key Highlights

• Funding Amount: $16M Series A
• Valuation: Undisclosed
• Headquarters: San Francisco, CA
• Founded: 2021
• Employees: 20-40
• Total Raised: $19M

About the Funding Round

Modal has successfully closed $16M Series A in funding, marking a significant milestone in the company's growth trajectory. This investment will enable the company to accelerate product development, expand market reach, and strengthen its position in the developer tools sector.

Investor Syndicate

The round was backed by a prestigious group of investors:

• Redpoint Ventures
• Amplify Partners

This diverse group of investors brings not only capital but also strategic expertise and valuable networks that will help Modal achieve its ambitious goals.

Market Opportunity

The developer tools market continues to experience rapid growth, driven by increasing demand for innovative solutions and digital transformation across industries. Modal's unique approach and proven technology position it well to capture significant market share in the coming years.

Company Background

Founded in 2021 and headquartered in San Francisco, CA, Modal has established itself as an innovative player in the developer tools space. With 20-40 employees, the company has built a strong team focused on delivering exceptional value to customers.

Next Steps

With this new funding, Modal plans to:

• Accelerate product development and innovation
• Expand into new markets and geographies
• Grow the team across engineering, sales, and operations
• Strengthen partnerships with key industry players
• Scale infrastructure to support rapid growth

Industry Impact

This funding round represents a strong vote of confidence in Modal's vision and execution. The investment will help drive innovation in the developer tools sector and create new opportunities for customers and partners.

For more information about Modal, visit their website or contact their press office.