Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
10.16.25
Pillsbury advised leading AI infrastructure provider Modal Labs, Inc. on its recent $87 million Series B funding round—led by Lux Capital. The round increased Modal’s total money raised to $111 million and its post-money valuation to $1.1 billion.
Modal 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.
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The Pillsbury deal team was led by Emerging Companies & Venture Capital partner Ron Fleming and included Corporate senior associate Taylor O’Toole and associates Alec Saccogna and Natalie Alexander.