Side-by-side IPO readiness, funding history, and valuation comparison. Data sourced by TechStackIPO.
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Faire is the wholesale marketplace connecting 700K+ independent retailers with 100K+ emerging brands — the B2B commerce platform for the indie retail economy. Valued at $12.4B with $1.7B raised, Faire processes billions in annual GMV and is the dominant wholesale marketplace globally. IPO candidate as B2B commerce digitisation continues to disrupt traditional wholesale distribution — a $50B+ global market.
| Industry | E-commerce |
| Stage | Series H |
| IPO Status | Private |
| Valuation | $12.4B |
| Total Funding | $1.7B |
| Headquarters | San Francisco, CA |
Modal provides cloud compute for AI and data science workloads, enabling ML engineers and data scientists to run Python, GPU, and serverless workloads in the cloud without managing infrastructure. Valued at 200M USD with 60M raised, Modal competes with Baseten, Vercel, and AWS SageMaker in the 50B+ ML deployment market.
| Industry | Enterprise Software |
| Stage | Series D |
| IPO Status | Private |
| Valuation | $1.8B |
| Total Funding | $286M |
| Headquarters | New York, NY |
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Faire is valued at $12.4B. Modal is valued at $1.8B. Both figures are based on the most recent funding rounds tracked by TechStackIPO.
Faire filed an S-1 in April 2026 and is actively in the IPO pipeline. Modal is currently private. Track both companies on TechStackIPO for S-1 filings, roadshow announcements, and IPO date updates.
Faire has raised $1.7B. Modal has raised $286M.
Faire operates in E-commerce, while Modal operates in Enterprise Software.
Faire is a E-commerce company valued at $12.4B with $1.7B raised. Modal is a Enterprise Software company valued at $1.8B with $286M raised. See TechStackIPO's full side-by-side comparison for IPO readiness scores, funding timelines, and investor access options.
Accredited investors can access pre-IPO shares in Faire and Modal through secondary market platforms, pre-IPO funds, and broker-dealer platforms that facilitate private company transactions. TechStackIPO's marketplace section tracks available access options for both companies. Pre-IPO investments carry higher risk and limited liquidity.