Modal raises $355M as AI infrastructure startups keep scaling

Modal's $355M Series C adds to a busy week for AI infrastructure funding. Axios Pro Rata reported that the San Francisco AI infrastructure layer raised the round at a $4.65B post-money valuation, led by General Catalyst and Redpoint Ventures, with Menlo Ventures and Accel participating. Follow-on startup coverage says the round follows a 2025 Series B at roughly a $1.1B post-money valuation, reflecting investor demand for programmable compute and deployment layers around AI workloads. The significance is that value is concentrating not only in frontier model labs, but also in the infrastructure that lets companies run, scale, and own AI workloads without building full cloud platforms themselves. Watch whether Modal's growth comes from AI-native startups, enterprise internal tooling, model-serving workloads, or broader serverless compute demand.

Key details: Modal, $355M Series C, $4.65B post-money valuation, General Catalyst, Redpoint Ventures, Menlo Ventures, Accel, AI infrastructure.

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