The problem
AI teams need GPU compute that scales instantly without managing servers or clusters
What they do
Serverless cloud for running AI inference, training and sandboxes on GPUs
Traction $1B+ annualized run rate (Oct 2026), up 15x YoY; usage 3x since May
Hiring trend
- Open roles
- 43
- Ops roles
- 2
- Headcount
- ~170
~120 staff at Series C to ~170 (PitchBook); 41 open roles
Hiring in
- New York
- San Francisco
- Stockholm
- Remote
Funding
- Last round
- $750M
- Stage
- Series D
- Date
- Oct 2026
Led by Accel
- Hiring+243 open roles on the live job board (30+ roles = +2)
- Funding recency+2Series D · $750M, Oct 2026 (this month): 6 months or less = +1.5, $100M+ round +0.5
- Traction+1.5Strong growth: $1B+ annualized run rate (Oct 2026), up 15x YoY; usage 3x since May
- Red flags0None found in the last 24 months
- Total5.52 + 2 + 1.5 − 0 = 5.5 → Sprint (4.75 or more)
Distance (Half) is a separate read on how long the lead can last. It doesn't change the score.
Distance
Half · edge: cheaper at size
Annualized revenue rose from $60M to $300M+ in eight months; relies on rented GPU supply.
Sources: Modal blog: Series C, $300M+ annualized revenue (May 2026) ↗ · Tech Funding News: Modal $15B talks, margin risk (Sep 2026) ↗
Open ops roles · 2
Last checked Oct 25, 2026