What is Modal?
Modal operates at the intersection of fintech and automotive retail, providing a robust software-as-a-service platform that empowers car dealerships to facilitate end-to-end digital transactions. By integrating complex workflows—such as vehicle upgrades, financing approvals, and delivery logistics—directly into the dealership website, Modal effectively removes the friction traditionally associated with automotive sales. The platform serves as a critical digital infrastructure layer, allowing dealerships to maintain 24/7 operations and meet the evolving expectations of modern, tech-savvy consumers who demand a seamless, remote purchasing journey.
How much funding has Modal raised?
Modal has raised a total of $27.1M across 5 funding rounds:
Other Financing Round
$1.5M
Angel/Seed
$5.2M
Other Financing Round
$5M
Debt
$350K
Series A
$15M
Other Financing Round (2016): $1.5M with participation from Flight Ventures, Khosla Ventures, Y Combinator, Propel Venture Partners, and Gil Penchina
Angel/Seed (2017): $5.2M led by Khosla Ventures, Perkins Coie, Emagen Entertainment Group, Bullpen Capital, and Y Combinator
Other Financing Round (2019): $5M supported by Peter Thiel, IDOM Inc., and Ally Ventures
Debt (2020): $350K featuring PPP
Series A (2020): $15M backed by American Honda Motor Co., Inc.
Key Investors in Modal
Khosla Ventures
A prominent venture capital firm founded by Vinod Khosla, specializing in breakthrough technologies across fintech, enterprise software, and sustainable energy sectors.
Y Combinator
A premier startup accelerator and seed-stage investor that provides critical early-stage capital and mentorship to high-growth technology companies.
American Honda Motor Co., Inc.
The North American subsidiary of the global automotive manufacturer, focusing on strategic investments that enhance the digital retail and consumer experience within the automotive ecosystem.
What's next for Modal?
Looking ahead, Modal is well-positioned to capitalize on the accelerating trend of digital-first automotive retail. The infusion of capital from major strategic partners suggests a roadmap focused on deepening integration with existing dealership management systems and expanding the platform's feature set to include more sophisticated financial services. As the automotive industry continues its transition toward omnichannel sales models, Modal's ability to provide a turnkey, enterprise-grade solution will likely remain a key competitive advantage. Future growth will likely center on scaling these digital capabilities to support larger dealer networks and enhancing the consumer experience through data-driven personalization and streamlined logistics.
See full Modal company page
