Airtable Inc., the startup behind the hit cloud-based spreadsheet instrument of the identical identify, as we speak introduced that it has nabbed a $185 million funding spherical at a virtually $2.6 billion valuation.
With as we speak’s spherical, Airtable has raised $350 million so far. Thrive Capital was the lead investor and a half-dozen institutional backers, together with acquainted names such as Benchmark Capital, chipped in as properly.
The motive behind Airtable’s unicorn valuation is the rising recognition of its namesake service, which is utilized by about 200,000 organizations worldwide to handle inner workflows. Airtable permits customers to create spreadsheets for duties such as mission monitoring that they will fill with not solely with numbers and textual content but in addition recordsdata such as design mockups.
The method Airtable shows spreadsheet knowledge may be personalized based mostly on the consumer’s wants. Project deadlines, for instance, may very well be proven as entries in a calendar. Users even have the power to visualise knowledge in charts and combine with exterior instruments such as Slack to carry out duties like notifying colleagues when a spreadsheet discipline modifications.
These options and the opposite productivity-boosting instruments Airtable has constructed atop its service are one in every of its foremost methods it stands out from extra established alternate options such as Excel. With the brand new funding, the startup plans to double down on this a part of its enterprise.
The startup can also be increasing its platform in different methods. Airtable Apps debuted as we speak alongside one other instrument, Airtable Automations, that can be utilized to create easy workflows for dealing with repetitive actions. It will assist the startup higher meet the wants of consumers who want to customise the instrument for his or her necessities, however to not such an extent that it would justify the expense of writing customized code.
“With Automations, you can choose from several common commands so Airtable will automatically send customized emails or message notifications, generate reports, perform repetitive steps and more,” Airtable Chief Executive Officer Howie Liu wrote in a weblog put up as we speak.
Today’s funding spherical is the fifth raised by the seven-year-old startup. Besides lead investor Thrive Capital and Benchmark Capital, the spherical additionally noticed the participation of Coatue, CRV, Caffeinated Capital and new investor D1 Capital Partners.
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