The fastest growing market in technology today is the infrastructure to train, serve and run AI. AI workloads are changing what developers need from the cloud, and the infrastructure built for the cloud isn’t optimized for AI. As the market evolves from ‘AI-natives’ to every company using AI tools, Modal provides the building blocks for the smallest startups to the largest companies in the world.
AI applications increasingly create a wide range of workloads: generate an embedding, transcribe a recording, serve an LLM, fine tune a stable diffusion model, or run code on an agent’s behalf. These jobs demand different combinations of CPU and GPU compute, storage, and networking, and arrive in unpredictable bursts. Modal has built a platform that abstracts this complexity, giving developers one execution platform from experimentation through production.
Co-founders Erik Berhardsson and Akshat Bubna created Modal to empower developers, making running code as easy as writing it. At Accel, we have long believed in the power of developer-first products and the power of a differentiated developer experience. Modal brings complex compute into a Python-native workflow, handling provisioning and scaling behind the scenes. As we’ve heard time and time again from customers, Modal’s incredible power lies in this ease of use, removing complexity for developers, while delivering industrial-scale performance. That’s why tens of thousands of developers and companies use the platform.
Modal’s customers include labs like TypeSafe AI; AI companies such as Cognition, Decagon, and Ramp; research teams including Physical Intelligence and Chai Discovery; and companies like DoorDash and Oura. The strength of Modal’s developer community was on full display at its inaugural Runtime conference in San Francisco on October 2.
Modal has been on a tear, growing 15x year over year, and has crossed $1 billion in revenue run rate during Sept 2026. Modal has run more than 3 billion sandboxes, which customers use to test and run code, and now account for $300 million of its revenue run rate.
Accel has led Modal’s $750mm Series D, deepening our earlier investment in this incredible team. The industry is still in the very early stages of building AI infrastructure, and we look forward to continuing to partner with Erik, Akshat as they lead the way.
