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.
At present, Airtable is value 10 occasions that quantity, because of $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 Worth Associates additionally joined the spherical, in response to 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 checklist of the world’s most valuable startups.
Airtable’s collaboration instruments have grown extra helpful because it has expanded from being primarily a hybrid spreadsheet and database right into a customizable “low code” software program platform for artistic workspaces.
Regardless of its speedy development and growing 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 stated “no official timetable has been set.” A 12 months in the past, CEO Howie Liu mainly advised me the identical factor, saying the corporate was centered on “livid innovation” and that going public was “not prime of thoughts.”
If something, the brand new funding introduced this week may give Airtable the respiratory room to maintain taking its time.