---
title: "Pillsbury advises Modal Labs on $750 million financing"
url: https://stacklist.com/card/e35a5677-6ef2-448e-8d40-ceb17420bd38
source_url: "https://www.pillsburylaw.com/en/news-and-insights/pillsbury-advises-modal-labs-on-750-million-financing.html"
stack: https://stacklist.com/c/finance/stack/7f731214-b66b-4d90-921a-0456279c87c5
summary: "Pillsbury advised Modal Labs on its $750 million Series D financing at a $15.75 billion post-money valuation, led by Accel with participation from Kleiner Perkins and other major investors. Modal is a New York-based cloud function platform enabling developers to run compute-intensive workloads including machine learning inference and batch jobs."
tags: "venture-capital, ai-infrastructure, series-d-financing, modal-labs, pillsbury"
key_entities: "Pillsbury (organization), Modal Labs (organization), Accel (organization), Kleiner Perkins (organization), Ron Fleming (person), Taylor O'Toole (person), Alec Saccogna (person), New York City (location), Menlo Ventures (organization), General Catalyst (organization), Bain Capital Ventures (organization), machine-learning-inference (concept)"
classification: "reference"
content_hash: "sha256:024e9278f44656c2e606e5caf4ba123aefefba35d14f53fb7f3486d4b2509edb"
acp_version: "0.2"
token_counts_approximate: 364
visibility: public
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status: "final"
---

# Pillsbury advises Modal Labs on $750 million financing

Press Release Pillsbury Advises Leading AI Infrastructure Company Modal Labs On Its $750 Million Series D Financing Press Contacts: Erik Cummins , Matt Hyams , Taina Rosa , Olivia Meyer PDF Share Email Twitter LinkedIn Facebook Press Release Press Contacts: Erik Cummins , Matt Hyams , Taina Rosa , Olivia Meyer 10.15.26 A Pillsbury team led by New York Emerging Companies & Venture Capital partner Ron Fleming, counsel Taylor O’Toole and senior associate Alec Saccogna advised longtime client Modal Labs on its $750 million Series D financing at a $15.75 billion post-money valuation. The round was led by Accel, and Kleiner Perkins followed along with many existing investors, including Menlo Ventures, General Catalyst, Redpoint, Lux Capital and Bain Capital Ventures. Modal, headquartered in New York City, is a cloud function platform that makes it easy for developers to run compute-intensive workloads like machine learning inference, fine-tuning and batch jobs. To read more about this transaction, please click here . Pillsbury also advised Modal on these transactions here and here . In addition to Fleming, O’Toole and Saccogna, the Pillsbury team included ECVC associate Alyssa Jatnieks and Antitrust & Competition attorney Evan Storm. Tags Ron Fleming, Taylor N. O'Toole, Alec Saccogna, Evan Storm, Alyssa Jatnieks, Corporate, Artificial Intelligence, Emerging Companies & Venture Capital, Silicon Valley, Washington, DC, New York