How much are Modal's startup credits?
Modal publishes no dollar figure and promises “thousands of free GPU credits” on its startups page. The amount each startup gets is set from its traction, the funding it has raised and whether a VC or accelerator that Modal partners with backs it.
Credits are a one-time grant per tier: you may not reapply once you have received credits in a given tier. For the amount on offer to your company, Modal says to email its startups team.
Source: Modal for Startups (modal.com/startups)
Who qualifies for Modal for Startups?
Startups that are new to Modal and have raised venture funding. For the Seed to Series A tier that means any amount from a VC in Modal's partner network, or more than $1M from any fund.
The Scaling and Series B+ tier is custom for rapidly growing AI-native companies. Modal says it partners with 40+ venture firms and accelerators, including a16z, Accel, Sequoia, Y Combinator, Khosla and Lux, and a VC fund can ask to join the network through a form on the page.
Modal's two tiers, per its startups page
- Seed to Series A, free credits for rising startups: raised any amount of VC funding from Modal's VC partner network
- Seed to Series A: or raised VC funding of more than $1M from any fund
- Scaling and Series B+, custom for rapidly growing AI-native companies: raised VC funding of more than $30M or is post-Series B
- Scaling and Series B+: VC is part of Modal's partner network
Source: Modal for Startups (modal.com/startups)
How long do Modal startup credits last?
One year, and Modal says they cannot be reinstated if they expire. Credits can be used toward all compute resources, including in-demand GPU types, but not toward team or enterprise subscription fees.
Credit balances and expiration dates show on your billing page. Modal requires a payment method on the account so your apps are not interrupted after the credits run out.
Source: Modal for Startups (modal.com/startups)
How do I apply to Modal for Startups?
Use the Apply Now button on modal.com/startups, which opens Modal's startup credits form. If you have not heard back within 2 weeks, Modal says to email startups@modal.com.
Approved startups get more than credits: Modal lists direct access to its engineering team for technical support, help amplifying launches and raises, and a community of founders through online and in-person events.
Source: Modal for Startups (modal.com/startups)
Does Modal have a free plan without applying?
Yes: the Starter plan is $0 a month plus compute and includes $30 a month in free credits, while Team is $250 a month plus compute with $100 a month in free credits.
Modal bills compute by usage and says you never pay for idle resources. Its pricing page also lists credit grants for startups and, separately, for academics.
Modal's plans, per its pricing page
- Starter: $0 plus compute, $30 a month in free credits, 3 workspace seats, 100 containers and 10 GPU concurrency
- Team: $250 plus compute, $100 a month in free credits, unlimited seats, 5000 containers and 50 GPU concurrency
- Enterprise: custom pricing with volume-based discounts and higher GPU concurrency
Source: Modal pricing (modal.com/pricing)
How much has Modal raised and what is its valuation?
Modal announced a $750M Series D at a $15.75B post-money valuation, led by Accel, and says it has crossed $1B in annualized run rate. Its existing investors, including Menlo Ventures, General Catalyst, Redpoint and Lux Capital, all took part.
Modal says it has a team of 200+ across New York, San Francisco and Stockholm, and links to its open roles from the announcement.
Source: Modal blog: Series D (modal.com/blog/1-billion-annualized-run-rate-series-d)
