Modal
Modal offers a serverless compute platform for AI and ML teams, featuring a Rust-based container stack for fast, scalable workloads.
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Company Description
Modal Labs, founded in 2021, provides a serverless compute platform designed for AI, data, and machine learning teams. The service allows developers to run compute-intensive workloads, such as ML model inference, fine-tuning, and large-scale batch jobs, without managing underlying cloud infrastructure. To optimize performance and achieve fast cold-start times, the company built its own container system from scratch in Rust. Since its founding, Modal has developed its own file system and container runtime to support large-scale AI applications. The company secured $16 million in a Series A funding round in November 2023.
Modal continues to build features on top of its core compute infrastructure, with a focus on improving the developer experience for AI and machine learning applications. A recent major product launch was Modal Notebooks, a collaborative environment for high-performance interactive computing that attracted over 5,000 accounts during its beta period. The company is also the AI infrastructure provider for other technology firms, including pyannoteAI for its speaker diarization model and koyal.ai, an audio-to-video platform. These collaborations demonstrate the platform's use in supporting specialized AI services.
- Redpoint
- Amplify Partners
- Definition Capital
- Co-Founder, CEO Erik Bernhardsson
- Co-Founder, Akshat Bubna
Peer Group Comparison
Vs Peer Group of >$4B Startups
How Modal Measures Up
To help you manage your Modal equity, Prospect has run the company through our machine learning model.
Prospect Rating
TBD
We are still gathering data and evaluating Modal's rating. Check back soon for our rating on Modal's worth 4 years from now.
Exit Risk
TBD
We are still gathering data on Modal to train our machine learning model. Check back soon for our exit risk rating for Modal!
Funding Stage
Series A
Since Modal is at the Series A stage, it means they've found their footing and are now focused on scaling the team and business. This offers a great opportunity to have a major impact on a company that's established but still has plenty of room for growth.
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Modal worth joining?
Evaluating if a startup like Modal is worth joining depends on its growth potential, investor quality, and the value of its equity offer. Platforms like Prospect provide data-driven insights and projections to help you make an informed decision.
What should I do with my Modal stock?
Deciding what to do with your stock involves complex tax and financial planning, especially around when to exercise options or sell shares. Using a tool like Prospect can help you model different scenarios and create a tax-optimized strategy for your equity.
Can you sell Modal stock?
Selling stock in a private company like Modal is typically possible through secondary markets or company-approved tender offers, but it is often subject to restrictions. Platforms like Prospect can provide data on secondary market pricing to help you understand the potential value in such a transaction.
How can I find the value of my Modal stock?
The value of stock in a private company is determined by its latest 409A valuation and factors like recent funding rounds and growth metrics. You can use a platform like Prospect to get independent projections on your equity's worth based on data similar to what VCs use.
What is Modal's equity worth?
The worth of equity in a private company like Modal is not fixed and depends on the company's future success and eventual exit, such as an IPO or acquisition. Prospect's predictive models can help you understand what your equity could be worth by analyzing the company's growth, market, and investor quality.
What is Modal's stock ticker symbol?
As a private company, Modal does not have a stock ticker symbol because it is not traded on a public stock exchange. Ticker symbols are assigned only when a company undergoes an Initial Public Offering (IPO) and lists on an exchange like the NYSE or NASDAQ.
Can I buy or sell Modal stock?
Buying stock in a private company like Modal is generally restricted to employees exercising their options or accredited investors participating in funding rounds. Selling is also controlled, often happening through secondary markets, and tools like Prospect can help employees navigate the complexities of when to exercise and sell.
What is the criteria to buy or invest in Modal stock?
To invest in a private company like Modal, you typically need to be an employee receiving equity compensation or an accredited investor participating in a private funding round. These opportunities are not generally available to the public until the company goes public.
