Spreadsheet-centric database and no-code platform Airtable announced today that it has launched a Series D funding round of $ 185 million, giving the company a post-money valuation of $ 2.585 billion receives.
Thrive capital led the round with additional funding from the existing investors Benchmark, Coatue, Caffeinated Capital and CRV as well as the new investor D1 Capital. Airtable, which claims to have 200,000 companies using its service, has raised a total of around 350 million US dollars. Current clients include Netflix, HBO, Condé Nast Entertainment, TIME, the City of Los Angeles, MIT Media Lab and IBM.
In addition, the company is today releasing one of its largest feature updates that realizes the company̵
As the founder and CEO of Airtable Howie Liu A number of investors have turned to the company since it increased its Series C round in 2018, also because the market has clearly recognized the potential size of the low-code / no-code market.
“I think there is this growing recognition in the market that the space is real and the space is very large […], “he told me.” While we didn’t necessarily need the funding, we could continue to invest aggressively in promoting our platform, vision and really aggressive execution. […] without having to worry: “Well what happens to COVID?” There’s a lot of uncertainty, isn’t there? And I think there is still great uncertainty today about what the next year will bring. “
The company began opening the round a few months after the first order for accommodations in California. For most investors, this was a purely digital process.
Liu has always been open about his longing to build this company – especially after he sold his last company to Salesforce early. As a founder, this likely means trying to keep his stake in the company high, even if Airtable continues to raise more money. However, he argues that the most important thing is the legal and structural controls to align with his investors.
“I actually think what I think is more important is the philosophical alignment and the alignment of expectations with investors,” he said. “Because I don’t want to be able to have a law or a structural debate about the company’s future. That almost feels like the last resort to me where it has already got to a place where things are ugly. I would much rather be in a position where all investors at the table, whether they have a legal say or not, are fully focused on what we’re trying to do with this business. “
“You may or may not need an exhaust valve, and of course we’ve come this far with 200,000 organizations using Airtable without that type of exhaust valve,” he noted. “But I think we open up a lot more use cases when we can say that Airtable is 99% there on its own, but the last 1% is make or break. You need it. And then the crucial difference is just having that outlet and using it much more efficiently to build this use case with 1% effort on Airtable instead of building the full stack application as a custom application. “
The last new feature is Airtable Sync. This makes it easier for teams to share data within a company and at the same time control who can see what. “The goal is to enable people who created software with Airtable to link that software together and share a source of the truth table between different instances of our tables,” said Liu.