Modular has raised $250M to scale AI's Unified Compute Layer
The world's appetite for compute is insatiable. CPUs yield to GPUs and ASICs as AI transforms everything, while data centers rise at unprecedented pace to feed the demand. Superintelligence won't just live in server farms - it's coming to every device, every chip becoming an AI-enabled agent. Inference costs plummet as reasoning models drive explosive usage, yet training costs climb relentlessly higher. The paradox deepens: amid this computational renaissance, massive underutilization haunts our existing capacity, fragmented by every hardware vendor's insistence on proprietary software stacks. The imperative is elegant but unforgiving: chase every flop, and make every one count - because software, not silicon, will determine whether this revolution soars or stalls.
We’ve spent the last 3+ years building foundational infrastructure to solve this for the world. We’ve reinvented the world's accelerated compute programming model from the ground up, and we are rapidly scaling to meet the enormous demand we are seeing from advanced enterprises and hardware partners. We have grown to more than 130 people today with our main headquarters in San Francisco Bay Area, along with a global footprint in North America, United Kingdom and Europe.
The round was led by Thomas Tull’s US Innovative Technology fund, with DFJ Growth joining and with participation from all existing investors including GV (Google Ventures), General Catalyst and Greylock Ventures. This brings our total capital raised to $380M across three rounds since its founding in 2022 and values Modular at $1.6 billion – almost tripling our valuation from our last raise. The investment reflects our incredible momentum and reinforces our position as the world’s only truly unified AI infrastructure platform to power the future of AI superintelligence.
