New Funding Places Airtable At $2.5B Valuation
Thrive Capital led the $185 million spherical, whereas present buyers Benchmark and Coatue Management, amongst others, additionally participated. The impact was to greater than double Airtable’s $1.1 billion worth from 2018, Bloomberg reported.
Airtable, competing with Google Sheets and Microsoft Excel, gives an alternate user-friendly solution to maintain observe of funding, regardless of its lack of some performance that its rivals have. The corporate will use the brand new funding to make it simpler for folks with no technological background to construct productiveness instruments, Bloomberg reported.
Max Gazor, a board member at Airtable and normal associate at enterprise capital agency CRV, instructed Bloomberg, “You’ll be able to construct 99 % of your software with out writing code.”
Airtable is one other enterprise that has seen a spike in exercise since working from residence turned the order of the day because of the pandemic.
Howie Liu, co-founder and CEO, known as his firm part of a “second wave” that may transfer corporations past communication apps like Zoom and Slack, and into extra superior tech so as to add productiveness, in accordance with Bloomberg. He mentioned the corporate would seemingly not be offered anytime quickly.
“We’ve been completely tired of acquisitions,” he mentioned, in accordance with Bloomberg, including he’s assured that there’s “simply a $100 billion” valuation the corporate might attain.
Hjalmar Gislason, GRID founder and CEO, told PYMNTS that the endurance of the spreadsheet — despite many grievances with the shape — comes from its flexibility and ease of use. He mentioned the features of the legacy spreadsheet make it very handy to make use of for anybody who must do one thing they do not have purpose-built software program for. That makes it preferable for a lot of companies over costlier, extra complicated options, he added.