Modal Labs, Inc.
About Modal Labs, Inc.
Company overview
Modal Labs, Inc. is a technology company founded in 2021 by Erik Bernhardsson and Akshat Bubna, with its headquarters located in New York, New York. The company operates a serverless cloud platform that allows developers to write Python code locally and execute it at scale on managed infrastructure, originally built to address gaps the founders experienced while scaling machine-learning systems at previous roles. Business/Product Breakdown Modal Labs, Inc. provides a code-first platform where every aspect of cloud execution?from container images to hardware selection?is expressed as Python functions decorated with simple stubs. The core product, Modal Functions, turns any Python function into an instantly scalable endpoint with sub-second cold starts and automatic horizontal scaling across CPU, GPU, or TPU resources. Modal Containers extend this model to long-running or stateful workloads, offering isolated execution environments that mount code, secrets, and cloud volumes without manual Dockerfiles. Modal Volumes deliver a high-throughput, globally replicated file system optimized for machine-learning datasets and checkpoints. Modal Queue and Modal Dict provide distributed primitives for job orchestration and shared state. The platform includes a unified dashboard for logs, metrics, and traces, plus a CLI that synchronizes local changes to the cloud in real time. All components are accessible via a single Python SDK and billed by the millisecond only for resources consumed.
Keywords
Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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