What a distinction three years makes for Airtable.
Again in November 2018, Quick Firm reported how the workplace-collaboration platform had entered into unicorn territory with a $100 million funding spherical that gave it a valuation of $1.1 billion.
In the present day, Airtable is price 10 instances that quantity, due to $735 million in new funding led by XN, together with Franklin Templeton, J.P. Morgan Progress Fairness Companions, Michael Dell’s MSD Capital, Salesforce Ventures, and Silver Lake. Funds suggested by T. Rowe Value Associates additionally joined the spherical, based on Airtable.
The brand new funding provides the San Francisco-based firm a “pre-money” valuation of $11 billion. That determine would bump it up considerably on the listing of the world’s most valuable startups.
Airtable’s collaboration instruments have grown extra helpful because it has expanded from being basically a hybrid spreadsheet and database right into a customizable “low code” software program platform for inventive workspaces.
Regardless of its speedy development and rising hypothesis about an IPO, the corporate doesn’t appear to be in any hurry to go public. Reached for touch upon Monday, an Airtable spokesperson mentioned “no official timetable has been set.” A yr in the past, CEO Howie Liu mainly instructed me the identical factor, saying the corporate was targeted on “livid innovation” and that going public was “not high of thoughts.”
If something, the brand new funding introduced this week may give Airtable the respiratory room to maintain taking its time.