If the data is the new oil era , then the application is the need for oil to drive these cars. There is currently a startup company that is building a platform where everyone, not just those with technical expertise, can produce and drive their own „cars.“ Airtable uses spreadsheets and other tools familiar to knowledge workers as a front-end interface to help them develop applications and other web-based experiences. The company recently completed $100 million in financing to expand its business and further recruit talent and set up offices outside the United States. In this round of financing, the company’s valuation reached $1.1 billion.
Airtable’s valuation is rocketing. According to Pitchbook’s data , Airtable’s valuation in the last round of financing eight months ago was only $152 million.
According to Airtable, there are currently about 80,000 companies using the company’s tools, which means real high growth. For reference, when the company eight months ago to raise $ 52 million , the client is only about 30,000 .
The latest C-round financing is by Josh Kushner of Thrive Capital, Peter Fenton of Benchmark, and Philippe Laffont and Thomas Laffont of Capital Capital. Thomas Laffont led the game. Delphine Arnault, Emily Weiss, Alexa Von Tobel, Sarah Smith, Dan Rose, and former investors CRV and Caffeinated Capital participated in the survey. Airtable’s total financing has therefore reached $170 million.
Airtable’s founding team includes CEO Howie Liu, chief technology officer Emmett Nicholas and Andrew Ofstad. Hovey Liu said that the original concept of the product comes from their own experience. The technology industry has found that for the vast majority of knowledge workers in the industry (and possibly no programming experience), many of the tools used to develop applications and other products may be too technical, and solutions for developing products such as applications on the market “ Too expensive, too complicated, and difficult to use.“
He said: „Our goal is to make value more popular.“ The founding team believes that the database „in the most flexible form, should be able to order as needed, which will be better than using other companies‘ current database models.“
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Airtable isn’t the only company that has discovered this problem and is trying to solve problems by developing powerful macros under standard database interfaces.
In Europe, DashDash came up with a similar concept, and the company pays special attention to spreadsheets. We even saw that Microsoft and partners are developing more features for Excel, the world’s leading spreadsheet tool.
In fact, the competition is not very intense. But for Airtable investors, this signal indicates that there is a lot of room in the market. Josh Kushner, managing partner of Thrive Capital, said in a statement: „In this upcoming market, Airtable has established itself as a leader.“
The most important aspect of Airtable is that in order to help users develop on their platforms, the company has adopted a strategy similar to Slack.
The company offers a platform called Blocks that allows users to import data from multiple sources and select different types of output based on how they are used and whether they are used in SMS marketing campaigns, AI dialogue robots, or virtual reality. Experience. Huo Wei Liu confirmed that for now, Excel is not one of the partners of Airtable integration.
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Another noteworthy point is that Airtable brings another case of how promising startups can achieve multiple rounds of high-funding in the short term.
Just yesterday, at least four startups, including Service Titan, UiPath, Nikoa, and SAM, announced that they had completed financing, and the last round of financing for these companies was a few months ago. This is a sign that the current market is very hot: there is a lot of money in the market, VCs and other investment companies have raised huge funds and are betting on attractive targets.
Fast-growing emerging companies provide a safe haven for these companies. At the same time, there are still billions of dollars in these funds that need to be invested, so we are likely to continue to see such investment trends for some time to come.
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Author bio:
Chris Mcdonald is a research analyst at Area19Delagate. It is a part of popular technology blog Complete Connection. He has a very detailed knowledge about digital marketing and Technology field. Here we give opportunity to guest bloggers to write for us business, write for us digital marketing, social media and write for us technology. We also accept guest post on health, WordPress, how to, IT, Social Media and many more categories guest posts.