Modal, a New York-based company specializing in modern compute infrastructure, announced an $87 million Series B funding round. Led by Lux Capital, the round brings Modal’s total raised capital to $111 million and values the company at $1.1 billion.
Modal works to provide the infrastructure developers need to build and run AI in production and power their workflows. The platform aggregates global GPUs and CPUs to enable faster iteration. It is code-first and features programmable modules for storage, compute and networking. Modal’s technology is designed to drive efficiency and speed by combining global compute and managing its capacity at scale.
The company’s product offerings include tools for running models on GPUs, launching parallel jobs and collaborating on data analysis. In the coming years, Modal plans to invest in launching more products.
