Press Release
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.