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Modal just raised. Here's exactly what to do next.

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Modal raised $25M in a funding round led by Left Lane Capital to grow its team and expand its offering to organizations worldwide.

PRIVATEApr 02, 2024•about 2 years ago

Amount Raised

$25 Million

New YorkSoftwareinformation technology & services

Investors

Left Lane Capital

Description

Modal, a startup founded by Darren Shimkus and Dennis Yang, raised $25 million in a funding round led by Left Lane Capital. The company plans to use the investment to support incoming demand and expand its offering to organizations worldwide.

Company Information

Company

Modal

Location

222 Broadway

New York, New York, United States

About

Modal is a company that provides a global, code-first compute platform built specifically for AI and machine learning workloads. Its platform supports the full machine learning lifecycle, from training and inference to batch processing and sandboxed environments. Modal’s technology is designed to address the growing demands of AI workloads, including generative AI inference, large language model fine-tuning, computational biotech, media processing, and other resource-intensive applications. With headquarters in New York, Stockholm, and San Francisco, Modal’s customer base includes companies working on a wide range of AI applications, from drug discovery to generative media production.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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