Nilay Modi
| Nilay Modi | |
| Occupation | Entrepreneur, product designer |
|---|---|
| Known for | Co-founder of Central (YC S24) |
| Education | University of California, Los Angeles (Cognitive Science) |
Nilay Modi is an American entrepreneur and product leader, best known as a co-founder of Central, a startup that handles payroll, benefits, compliance, and other back-office operations for startups using a combination of artificial intelligence agents and human experts. Central was part of the Y Combinator Summer 2024 batch.[1]
Early life and education
Modi studied cognitive science at the University of California, Los Angeles (UCLA).[2] Prior to founding his own companies, he completed internships at 3M, where he worked on projects including a 3D asset marketplace and an educational chatbot for students.
Career
Modi's first startup was Clayboard, a virtual workshop platform that was part of Y Combinator's Winter 2020 batch. Clayboard received backing from Y Combinator, Gradient Ventures, and SOMA Capital, and operated from 2019 to 2022.
In January 2023, Modi co-founded Central alongside Josh Wymer (CEO) and Pranav Kashyap. At Central, Modi serves as the head of product and design. The company is based in San Francisco and operates in the fintech, HR tech, and payroll sectors.[1]
Central differentiates itself from traditional HR and payroll software platforms by combining AI agents with human experts to directly execute back-office tasks rather than providing self-service tools. The company's services include payroll processing for U.S. employees and global contractors, benefits administration, state compliance, accounting, and tax filings. According to the company, its approach saves startup founders more than ten hours per month on administrative work.[3]
As of 2025, Central reported serving over 500 startups. The company raised $8.6 million in seed funding led by First Round Capital with participation from Y Combinator, bringing its total funding to $9.1 million.[3]
Modi is a two-time Y Combinator founder, having participated in the program with both Clayboard (W20) and Central (S24). He has also been recognized at hackathons for projects including an Oculus Rift data explorer and a mind-controlled Mercedes demonstration.
References
- ↑ 1.0 1.1 "Central – Y Combinator". 'Y Combinator}'. Retrieved 2026-03-18.
- ↑ "Nilay Modi – Crunchbase". 'Crunchbase}'. Retrieved 2026-03-18.
- ↑ 3.0 3.1 "Central – AI-Native Payroll, HR, Benefits and Compliance". 'Central}'. Retrieved 2026-03-18.