Tech Company Financing Transactions
Modal Labs Funding Round
Redpoint Ventures, Amplify Partners and Definition Capital participated in a $16 million Series A funding round for Modal Labs. The round was recorded on 10/10/2023.
Transaction Overview
Company Name
Announced On
10/10/2023
Transaction Type
Venture Equity
Amount
$16,000,000
Round
Series A
Investors
Proceeds Purpose
Modal as it exists today allows data teams and engineers to run code in the cloud without having to configure or set up the necessary infrastructure. Using a custom-built container system coded in Rust, Modal's platform can scale to hundreds of GPUs in as little as "seconds," Bernhardsson claims.
Company Information
Company Status
Private & Independent
Industry
Infrastructure
Mailing Address
222 Broadway Floor 22
New York, NY Undisclosed
USA
New York, NY Undisclosed
USA
Phone
Undisclosed
Website
Email Address
Overview
We think it's the easiest way for developers to get access to containerized, serverless compute without the hassle of managing their own infrastructure.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Co-Founder
Luis Capelo
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