/Companies

Modal

Unicorn exit · $4.7BAcquired

New York, US · Founded 2021 · 221 employees on LinkedIn · 34 known investors

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Modal provides a cloud platform that lets developers define compute, hardware, and application logic in Python and deploy to the cloud, with fast-booting containers and autoscaling GPUs. It targets AI and ML workloads such as inference, model training, and large-scale parallel processing.

Also known as Drifting in Space · Jamsocket, Inc. · Modal · MODAL LABS, INC.

Founders & leadership

Modal was founded in 2021 by Erik Bernhardsson and Akshat Bubna.

EBErik Bernhardsson
Erik BernhardssonFounderErik Bernhardsson is founder and leader of Modal, a serverless infrastructure platform for data and machine learning workloads. Previously, he led the technology organization at Better from 2015 to 2020, scaling the engineering team from 1 to 300 people, and spent approximately 7 years at Spotify building music recommendation systems.
ABAkshat Bubna
Akshat BubnaFounderFounder at Jamsocket
SZ
Seth ZelnickGeneral CounselExecutive Officer at Modal Labs, Inc.
AKAaron Krane

Board

PCPatrick Chase
Patrick ChaseBoard MemberManaging Director at Redpoint Ventures
SCSarah Catanzaro
Sarah CatanzaroBoard directorGeneral Partner at Amplify Partners

Investors · 34

Also in the syndicate · 4

Andrej KarpathyDaniel GrossDefinition CapitalSarah Guo / Conviction

Reported raises · per SEC filings

Form D private placements

$456.3M disclosed across 4 of 9 rounds · 2022–2026

▶$204.9MraisedAug 2026 · 41 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Erik BernhardssonExecutive Officer, Director
  • Akshat BubnaExecutive Officer
  • Sarah CatanzaroDirector
  • Patrick ChaseDirector
  • Seth ZelnickExecutive Officer
Offering amount
$205M
Amount sold
$204.9M
First sale
Apr 2026
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$175.3MraisedAug 2026 · 17 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Erik BernhardssonExecutive Officer, Director
  • Akshat BubnaExecutive Officer
  • Sarah CatanzaroDirector
  • Patrick ChaseDirector
  • Seth ZelnickExecutive Officer
Offering amount
$175.4M
Amount sold
$175.3M
First sale
May 2026
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$16.5MraisedOct 2025 · 16 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Erik BernhardssonExecutive Officer, Director
  • Patrick ChaseDirector
  • Sarah CatanzaroDirector
  • Akshat BubnaExecutive Officer
Offering amount
$18M
Amount sold
$16.5M
First sale
Jun 2023
Incorporated
Corporation, Delaware, 2021
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$59.7MraisedOct 2025 · 68 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Patrick ChaseDirector
  • Akshat BubnaExecutive Officer
  • Erik BernhardssonExecutive Officer, Director
  • Sarah CatanzaroDirector
Offering amount
$94.4M
Amount sold
$59.7M
First sale
Jul 2025
Incorporated
Corporation, Delaware, 2021
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Valuation · disclosed

Disclosed events
$4.7Bvaluation at Series CMay 2026
filing ↗
$1.1Bvaluation at Series BSep 2025
filing ↗

Source: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.

Company profile

researched Aug 2026

Jamsocket (also referenced by its founders as Drifting in Space) was a backend platform for building sync engines and high-performance, browser-based applications. Its core idea was to give every end user of an application a dedicated, session-lived backend process — an architecture used by products such as Figma and GitHub Codespaces — and to make deploying that architecture as straightforward as deploying a conventional web server.

The company shipped several components: Plane, an open-source orchestrator that powers the Jamsocket platform; Y-Sweet, a document store and realtime sync backend running on top of Jamsocket; and ForeverVM, a service providing stateful Python REPLs for AI code execution. Jamsocket's infrastructure was built on gVisor, the secure container runtime also used by Modal.

On July 10, 2025, Modal announced that the Jamsocket team was joining Modal through an acquisition. Co-founders Paul Butler (CEO) and Taylor Baldwin (CTO) joined Modal to build Jamsocket- and ForeverVM-like functionality into Modal's platform, while existing Jamsocket products were to continue operating during migration. Y Combinator lists Jamsocket's status as acquired.

Founding story

Jamsocket was founded in 2021 by Paul Butler and Taylor Baldwin. Butler's background spans engineering and data science, including software engineering on search at Google, quantitative analysis at Two Sigma, and botnet detection at an adtech startup; he is originally from Halifax, Canada and based in Brooklyn. Baldwin was previously a software engineer at Uber and Datadog building WebGL-based data visualization applications in the browser, worked at one point with the New York Times R&D team, and holds bachelor's and master's degrees in piano performance and pedagogy.

Business model

Jamsocket sold developer infrastructure: a hosted backend platform on which application developers deployed per-user, session-lived backend processes and realtime sync services, complemented by an open-source orchestrator (Plane). The sources do not specify pricing terms.

Not specified in the available sources beyond the sale of hosted backend platform services to application developers.

Traction

Public sources provide limited traction data: a team size of 5 and Y Combinator Winter 2022 participation. Modal noted that applications built on Jamsocket were increasingly AI-centric, and that customers would gain access to GPU inference and sandboxes post-acquisition.

Latest developments

On July 10, 2025, Modal announced Jamsocket was joining the company. Paul Butler and Taylor Baldwin joined Modal's team, Jamsocket products were to keep operating while core functionality migrated to Modal, and Jamsocket web properties now redirect to the acquisition announcement.

▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Jamsocket occupied the session-based/ephemeral backend infrastructure niche, adjacent to container orchestration and code-sandbox providers. Modal characterized Jamsocket's customer base as increasingly AI-centric, positioning the combined offering around GPU inference, code sandboxes, and realtime backends on one platform.

Technology

Jamsocket ran on gVisor, a secure container runtime. Its stack included Plane, an open-source orchestrator handling session-lived backend processes; Y-Sweet, a document store and realtime synchronization backend; and ForeverVM, which provides stateful Python REPLs as a service for AI code execution.

Go-to-market

Developer-led distribution: an open-source orchestrator (Plane) as an entry point to the hosted platform, plus community activity such as hosting developer events in New York. Y Combinator (Winter 2022) association provided additional visibility.

Developers and engineering teams building collaborative, compute-intensive, or browser-based applications that require a dedicated backend per user session, including realtime document collaboration and, increasingly, AI applications needing code execution sandboxes.

Geography

Headquartered in New York City, New York, United States. The founders were described as active participants in the New York tech scene, regularly hosting developer community events.

History

Founded in 2021 and based in New York City, Jamsocket took part in Y Combinator's Winter 2022 batch with Diana Hu as primary partner and had a team size of 5. Its founders previously operated under the name Drifting in Space. The company built the Plane orchestrator, the Y-Sweet sync backend, and ForeverVM, and was acquired by Modal in an announcement dated July 10, 2025.

Risks & controversies

No risks or controversies are reported in the available sources. As of the acquisition, Jamsocket's standalone products were slated for migration into Modal's platform, implying eventual consolidation of the original offerings.

Compiled by commissioned research from 13 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Annualized revenue (ARR)May 2026$300M
Cloud providers usedJan 202613
EmployeesApr 2026153
HeadcountAug 2026221
Post-money valuationMay 2026$4.7B
Sandboxes launched (cumulative)Jan 20261,000,000,000
Share of revenue from Sandboxes productJan 202633%
Team sizeJan 20255 employees
Total funding raisedAug 2026$490M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Founder mafia

The Modal mafia →

6 people who came through Modal went on to found or lead other companies.

Related companies · 7

NVIDIANVIDIA designs GPUs, AI computing hardware, and software platforms for AI development, data centers, autonomous vehicles, and robotics, serving developers, researchers, and enterprises. Its offerings include AI models, power architecture for AI factories, and compute infrastructure used across industries such as manufacturing, healthcare, and automotive.
Hugging FaceHugging Face is a collaboration platform that hosts and provides access to machine learning models, datasets, and applications. It offers both open-source tools for the ML community and paid compute and enterprise solutions for teams building AI applications.
OpenAIOpenAI is an AI research and deployment company focused on developing artificial general intelligence (AGI) with emphasis on safety and beneficial outcomes for humanity.
DataCampDataCamp is a learning platform for teams that teaches data and AI skills through hands-on coursework accessible via web browser and mobile app. It serves enterprise customers and development teams seeking to build technical capabilities.
NorthflankNorthflank is a developer platform for deploying and running application workloads across cloud providers (AWS, Azure, Google) and bare-metal without infrastructure management or vendor lock-in. It targets software engineers and ops teams building and shipping cloud-native applications.
RunpodRunpod is an AI developer cloud that provides on-demand GPU infrastructure for experimenting with, training, fine-tuning, deploying, and scaling machine learning models. It offers autoscaling serverless GPU endpoints, persistent GPU pods, and multi-GPU clusters for AI developers and teams running inference and training workloads.
BentomlBentoML provides a platform for deploying, managing, and scaling AI model inference, with support for open-source and custom models across any architecture or framework. It offers tools for packaging models, resource management, monitoring, and deployment on cloud or on-premises infrastructure for AI/ML teams.

Companies working in the same space as Modal.

Timeline · 10

launches, deals, and filings
May 2026
$355M Series C at $4.65B post-money valuation

Series C of $355 million led by General Catalyst and Redpoint Ventures with participation from Accel, Menlo Ventures and Bain Capital Ventures; reported to have closed in two tranches, an initial tranche at a $2.5B valuation (February 2026) and a second at $4.65B.

$355M source ↗

Jan 2026
Named #2 Early Stage company on Wing VC's Enterprise Tech 30 list

source ↗

Jan 2026
Surpassed 1 billion sandboxes launched

Cumulative sandbox launches on the platform passed one billion; the Sandboxes product accounts for roughly one third of total revenue.

source ↗

Jan 2026
Strategic partnership with Oracle Cloud Infrastructure for GPU capacity

Partnership with Oracle Cloud Infrastructure providing access to competitively priced GPU capacity, supporting Modal's multi-cloud architecture.

source ↗

Jan 2026
Browser-based Notebooks with GPU memory snapshots and clustered computing

Modal launched browser-based Notebooks using GPU memory snapshots that reduce startup times by 10x, and introduced clustered computing for multi-node, RDMA-connected GPU workloads.

source ↗

Oct 2025
Volumes v2 and JavaScript/TypeScript and Go SDKs in beta

Modal launched Volumes v2 and released JavaScript/TypeScript and Go SDKs in beta.

source ↗

Sep 2025
$87M Series B led by Lux Capital at $1.1B post-money valuation

Modal Labs raised an $87 million Series B led by Lux Capital, bringing total money raised to $111 million and a post-money valuation of $1.1 billion. Pillsbury Winthrop Shaw Pittman acted as counsel to the company.

$87M source ↗

Jul 2025
Jamsocket acquired by Modal

Modal announced that the Jamsocket team is joining Modal in an acquisition. Co-founders Paul Butler (CEO) and Taylor Baldwin (CTO) joined Modal. Jamsocket products were stated to continue operating normally while core functionality is migrated to Modal's platform. Deal terms were not disclosed.

source ↗

Nov 2024
Strategic Collaboration Agreement with Amazon Web Services

Modal signed a Strategic Collaboration Agreement (SCA) with AWS.

source ↗

Oct 2023
General availability of the Modal platform

Modal reached general availability in October 2023, opening instant account sign-ups and features including web endpoints, cron jobs and persistent storage, after gradual beta access and a public waitlist during 2022.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
Modal Labs, Inc.Delaware

In the news

▸Research sources · 13

primary sources listed

13 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Modal do?
Jamsocket was a New York backend platform for session-based, browser-run apps, acquired by AI infrastructure company Modal in July 2025.
Who founded Modal?
Modal was founded by Erik Bernhardsson, Akshat Bubna in 2021.
Who are Modal's investors?
Modal's investors include Amplify Partners, General Catalyst, Lux Capital, Redpoint Ventures, Creandum, Abstraction Capital, Accel, Ally Ventures and 22 more.
How much funding has Modal raised?
Modal has disclosed $456.3M raised across 4 of its 9 known rounds.
Where is Modal headquartered?
Modal is headquartered in New York, US.