Modal raises $87M Series B at $1.1B valuation

Modal has raised more than $80M in a Series B round led by Lux Capital, bringing its post-money valuation to $1.1B and total funding to $111M. The AI infrastructure provider offers Inference, Sandboxes, Batch and Training products, with sub-second container startup times and usage-based serverless pricing. Meta used Modal to spin up thousands of concurrent sandboxed environments for reinforcement learning with its Code World Models.