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Modal Raises $355M in Series C at $4.65B Valuation Led by General Catalyst

GateNews

AI Industry News

2026-05-22 01:51:46

According to Modal CEO Erik Bernhardsson, the AI cloud infrastructure startup completed a $355 million Series C funding round led by General Catalyst and Redpoint at a $4.65 billion post-money valuation. Menlo Ventures and Accel joined as new investors, with existing backers also participating.

Modal has grown fivefold since September and now exceeds $300 million in annualized revenue, with its sandbox product contributing approximately one-third of total revenue.

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