Instabase Raises $105M Series B Round To Become The Newest Unicorn In the Bay Area!

: October 22, 2019

Instabase Has Just Raised $105M In A New Round of Funding, And Becomes The Newest Unicorn In the Bay Area!

 

 

Instabase, a next generation operating system for the enterprise economy, has raised $105M from a new "Series B" financing. The round was led by Index Ventures with participation from existing investors Greylock Partners, New Enterprise Associates (NEA), and Andreessen Horowitz. Additional participating investors include Spark Capital, Tribe Capital, SC Ventures, and Glynn Capital.

 

Prior to this Series B round, Instabase has also raised $3.8M on Aug 31, 2015 and a $23.2 million Series A on 14 June 2017. Which brings the total funding raised by the company is $132M. The latest round also puts Instabase's valuation to over $1B, hence they become the newest unicorn from the Bay Area.

 

Instabase is a broad technology platform for operational efficiency. It is designed as a distributed operating system with the web browser as the user interface, a pluggable storage system for managing data (files and databases), and an app store for applications. These applications run on the Instabase Platform, which provides the core management capabilities for managing diverse, distributed datasets; support for collaboration and access control; and a runtime for Instabase Applications.

Instabase’s platform enables businesses to build customizable apps for automating different parts of their business. The company provides a general purpose framework for extracting data from documents, and classifying incoming documents.

 

Instabase also offers an app store, a growing marketplace of pre-packaged business apps for different industries, such as Income Verification, Adverse Media Analysis, Identity Verification, Trade Finance, Contract Analysis, and Financial Spreading.

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