New funding will support expansion of enterprise-grade product capabilities and increased scalability
Airtable announced today it raised $270 million in Series E funding at a $5.77 billion post-money valuation. The new funding will be used to accelerate Airtable’s development of enterprise-grade product capabilities and infrastructure, as well as to grow its team across critical functions.
Airtable has seen increased demand from enterprises looking to work in more flexible, visual ways. Over the past year, the company’s enterprise customer base grew by 3.4x and 13,000 net new paid customers joined the platform. Today, millions of users across 250,000 organizations – including Netflix, Red Bull, IBM, and Under Armour and more than half of the Fortune 1,000 – use Airtable.
“We’re part of a profound shift where a half billion apps will be created over the next few years, most of them with low-code platforms like Airtable,” said Howie Liu, co-founder and CEO of Airtable. “This additional capital will enable us to scale up to even more sophisticated use cases, invest in the reliability of our service, and focus on the long-term opportunities ahead of us.”
The new investment round was led by Greenoaks Capital, with additional participation from new investor WndrCo and existing investors Caffeinated Capital, CRV, and Thrive.
“We believe Airtable is chasing a massive opportunity to become the ‘residual’ software platform for every bespoke and custom use case that is either performed manually today or structurally underserved by rigid third-party software,” said Neil Mehta, managing partner at Greenoaks Capital. “By equipping business users with fundamental software primitives that can be assembled together into powerful business applications, Airtable has become central to its users’ everyday workflows but at the same time is scalable and extensible enough to support incredibly complex enterprise use cases like ticketing, content management, and CRM.”
"I'm inspired by Howie's bold vision for the future of work and energized by the opportunity to partner closely with him on the journey ahead,” said Jeffrey Katzenberg, founder and managing partner of WndrCo. "Having personally used Airtable and seen firsthand how revolutionary its impact is, I look forward to working with the team as they transform how every enterprise in the world operates."