Modal was built by a team of outsiders from world-leading technology companies including Google, Oracle, Palantir, and Facebook. Their products included Checkout (a turnkey checkout solution), Shop (a suite of connected shopping tools), and Trade (a vehicle trading suite with built-in estimation & pricing tools).
Cyborg Score Rationale
The company operated from 2015-2022 but has been defunct for over 3 years. While it demonstrated strong early traction and elite backing, operational closure and lack of recent activity severely limit current relevance.
Top Insights
At peak, overall volume through Modal's Checkout product reached over $8 billion, with largest customers reporting up to 20% gross ecommerce penetration and over $500 more profit per vehicle
Company raised $41.3M in funding from investors like Y Combinator, Khosla Ventures, and Bullpen Capital
Platform offline since May 31, 2022—company is no longer operational
Competed in crowded automotive retail software market with established and well-funded alternatives
Named Competitors
Roadster — Automotive retail software platform
GForces — Automotive industry software
SilverBullet — Automotive retail technology
Recent Developments
(May 2022) Wound down operations and took platform offline
(December 2020) Final Series A funding round
(June 2019) Announced $5M funding from Peter Thiel, IDOM Inc., and Ally Ventures
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