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- Instabase
Instabase Revenue, Valuation, Funding & Investors
Instabase is valued at $1.2B as of January 2025, a 24.8x multiple on its last reported $50M revenue.
Last Instabase valuation
$1.2B
Series D · Jan 2025
Last Instabase funding round
$100M
Series D · Jan 2025
Instabase revenue
$50M
Series D · Jan 2025
Key investors in Instabase
New Enterprise Associates
Greylock
Andreessen Horowitz
Index Ventures
Spark Capital
Tribe Capital
About Instabase
Instabase is a San Francisco-headquartered AI platform automating document processing for insurance, banking, and healthcare sectors. It extracts data from PDFs, images, and forms using computer vision and NLP, enabling workflows for claims, onboarding, and compliance. Instabase integrates with systems like Salesforce and integrates with RPA tools. Founded in 2015, it processes billions of documents annually for Fortune 500 clients.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$50M (Jan 2025)
Valuation
$1.2B (Jan 2025)
Instabase Valuation
Instabase is currently valued at $1.2B, based on its Series D in January 2025.
The $100M round was led by Qatar Investment Authority, with participation from Index Ventures, New Enterprise Associates, Andreessen Horowitz and Greylock.
Instabase's valuation has grown 1.2x from $1.1B at its Series B in October 2019 to $1.2B in January 2025, across 3 priced rounds.
Instabase valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2025 | Series D | $1.2B | 24.8x |
| Jun 2023 | Series C | $2B | 43.5x |
| Oct 2019 | Series B | $1.1B | 21.0x |
Instabase Revenue
Instabase's latest recorded revenue is $50M, as of its Series D in January 2025. At a $1.2B valuation, that implies a 24.8x revenue multiple.
Revenue moved from $50M in October 2019 to $50M in January 2025, while the revenue multiple moved from 21.0x to 24.8x.
Instabase revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2025 | $50M | $1.2B | 24.8x | Series D |
| Jun 2023 | $46M | $2B | 43.5x | Series C |
| Oct 2019 | $50M | $1.1B | 21.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Instabase Funding History
Instabase has raised a total of $292M across 6 funding rounds.
Instabase's first fundraising round was a $4M seed round in August 2015. The most recent completed round was a $100M Series D in January 2025.
Instabase funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2025 | Series D | Qatar Investment Authority (lead); Index Ventures; New Enterprise Associates; Andreessen Horowitz; Greylock | $100M | $1.2B | Instabase is a San Francisco-based AI company founded in 2015 by Anant Bhardwaj, specializing in an AI-powered platform for processing unstructured data from documents like PDFs, scanned images, and handwritten notes. The platform automates data extraction, classification, validation, analysis, and search, integrating generative AI features such as chatbots for querying business records. It serves industries including insurance, finance, banking, and healthcare, with customers like four of the five largest U.S. banks and Uber. In January 2025, Instabase raised $100 million in a Series D funding round led by Qatar Investment Authority (QIA), with participation from existing investors Andreessen Horowitz, Greylock Partners, Index Ventures, and New Enterprise Associates (NEA). The round valued the company at $1.24 billion post-money, down from $2 billion after its 2023 Series C. Proceeds will enhance product development, data extraction, analysis, search capabilities, and support hiring at least 50 more people, while expanding into the Middle East market. Instabase reported revenue exceeding $50 million in 2024, up slightly from nearly $50 million in 2023, reflecting steady growth amid a competitive landscape with players like Automation Anywhere, UiPath, and ABBYY. The company previously raised around $175-294 million across earlier rounds, achieving unicorn status in 2019. This down round aligns with broader VC trends in 2025, where flat and down rounds increased significantly. An IPO is not planned for at least four years. |
| Jun 2023 | Series C | Tribe Capital (lead); K5 Global; SC Ventures; Spark Capital; New Enterprise Associates; Andreessen Horowitz; Greylock; Bossa Invest | $45M | $2B | Instabase is a San Francisco-based AI platform specializing in applied AI for enterprise content understanding and intelligent document processing, enabling businesses to automate workflows with unstructured data such as legal paperwork, financial data, and academic papers. The platform supports quick deployment of enterprise apps, querying large file sets, and leveraging emerging AI models, including generative AI, competing with cloud giants like Google Cloud, AWS, and Azure by reducing data science labor. It serves demanding sectors like banking, insurance, healthcare, governments, and financial institutions with a hybrid consulting-software model. On June 6-7, 2023, Instabase raised $45 million in a Series C round led by Tribe Capital, with participation from Andreessen Horowitz, New Enterprise Associates, Greylock Partners, Spark Capital, K5 Global, and Standard Chartered Ventures (SC Ventures), doubling its prior valuation to a post-money $2 billion. The round concluded at the end of 2022 but was announced in June 2023 alongside the launch of AI Hub, a generative AI-based repository of apps for content understanding. Total funding across rounds reached approximately $192 million by July 2024, with prior raises including a $105 million Series B in 2019 at over $1 billion valuation. At the time of the Series C, Instabase reported estimated revenue of $46 million in 2023, with Sacra estimating $46 million ARR, up 10% year-over-year, from about 45 enterprise customers at an average contract value of $1.02 million. This implied a 46.9x revenue multiple on the $2 billion valuation per Contrary Research, or 43.5x per Sacra. The company had nearly 350 employees and focused funds on generative AI investments and AI Hub development. Instabase's traction includes partnerships with global enterprises in regulated industries and integrations with technologies like OpenAI. Its investor base features top VCs, positioning it to capitalize on AI advancements for mission-critical automation. |
| Feb 2022 | Series C | K5 Global | $15M | - | - |
| Oct 2019 | Series B | Index Ventures (lead); SC Ventures; Spark Capital; New Enterprise Associates; Andreessen Horowitz; Tribe Capital; Greylock; Glynn Capital Management; Antenna Ventures | $105M | $1.1B | Instabase, a platform for building custom business applications to automate enterprise processes, raised $105 million in its Series B funding round in October 2019 at a $1.05 billion post-money valuation, achieving unicorn status. The round was led by Index Ventures, with participation from existing investors Greylock Partners, New Enterprise Associates (NEA), and Andreessen Horowitz, as well as new investors Spark Capital, Tribe Capital, SC Ventures, and Glynn Capital Management. This brought the company's total funding to $132 million. The funds were intended to accelerate recruiting and scale its core platform, which transforms enterprise business processes through intelligent automation. Founded in 2015 by Anant Bhardwaj after leaving his MIT Ph.D. program, Instabase was initially seeded by NEA's Peter Sonsini and Greylock's Jerry Chen, followed by a Series A led by Andreessen Horowitz's Martin Casado in June 2017. The platform has demonstrated value in real-world applications, such as enabling a retail banking business to accelerate SME lending, saving an estimated 300 hours per week with faster turnaround and reduced errors, as noted by SC Ventures' Alex Manson. Index Ventures' Sarah Cannon joined the board post-funding, highlighting the massive opportunity in intelligent automation. |
| Jun 2017 | Series A | Andreessen Horowitz (lead); Evolution VC Partners; New Enterprise Associates; Rough Draft Ventures; Greylock | $23M | - | Instabase raised $23.2 million in a Series A funding round on June 14, 2017, led by Andreessen Horowitz with participation from Greylock, New Enterprise Associates (NEA), and other investors including Evolution VC Partners and Rough Draft Ventures. The funding was aimed at scaling the platform and entering new markets. Instabase, founded in 2015 and headquartered in San Francisco, develops an AI platform for automating document understanding and processing, initially focusing on optical character recognition (OCR) and machine learning for turning unstructured documents like paystubs, bank statements, and IDs into structured data for workflows in credit and KYC checks, primarily serving banks. Early traction included a handful of startup customers paying $2,000 per month after two years, but the company pivoted after signing a $1.5 million contract with Standard Chartered in 2018, dropping smaller clients to focus on enterprises and reaching $5 million ARR by the end of 2019 with additional bank customers. The platform has since expanded to handle broader unstructured data management across financial services, healthcare, government, and technology, with customers like AXA, Uber, and NatWest. Subsequent rounds included a $105 million Series B in October 2019 led by Index Ventures, Series C funding totaling around $60 million in 2022-2023 with a $2 billion valuation in June 2023 led by Tribe Capital, and a $100 million Series D in January 2025 led by Qatar Investment Authority at a $1.24 billion valuation, bringing total funding to approximately $294 million. By 2023, Sacra estimated $46 million ARR with 45 enterprise customers and an average contract value of $1.02 million, representing a 43.5x valuation multiple on that year's revenue, though customer base has since more than doubled. |
| Aug 2015 | Seed | Greylock (lead); New Enterprise Associates (lead) | $4M | - | Instabase raised $3.75 million in a seed funding round in August 2015 from Greylock Partners and New Enterprise Associates. The company, founded in 2015 by Anant Bhardwaj, develops a platform for business applications focused on AI for unstructured data processing. This seed investment supported the early-stage startup as it began operations in the Bay Area after Bhardwaj left his MIT PhD program. Subsequent rounds included a $23.2 million Series A in May 2017 led by Andreessen Horowitz, a $105 million Series B in October 2019 at $1.05 billion valuation led by Index Ventures with participation from Greylock, NEA, and others, a Series C in June 2023 doubling valuation to $2 billion, and a $100 million Series D in January 2025 at $1.24 billion valuation led by QIA. Instabase serves major enterprises including four of the five largest U.S. banks and Uber, with revenue exceeding $50 million in 2024. |
Who has invested in Instabase?
14 investors have backed Instabase across its funding rounds, including New Enterprise Associates, Greylock, Andreessen Horowitz, Index Ventures, Spark Capital and Tribe Capital.
Lead investors include Qatar Investment Authority, Tribe Capital, Index Ventures, Andreessen Horowitz, Greylock and 1 other investor.
Instabase Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Aug 2015 | ||
| 5 | Lead | Aug 2015 | ||
| 4 | Lead | Jun 2017 | ||
| 2 | Participant | Feb 2022 | ||
| 2 | Participant | Oct 2019 | ||
| 2 | Lead | Oct 2019 | ||
| 2 | Participant | Oct 2019 | ||
| 2 | Lead | Oct 2019 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Lead | Jan 2025 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Oct 2019 | ||
This data is available for Pro users. Sign up to see all 14 Instabase investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Instabase
Instabase has acquired 1 company to date.
Last acquisition by Instabase was on October 30th 2017. Instabase acquired Cloudstitch for undisclosed valuation.
Latest Acquisitions by Instabase
| Description | Cloudstitch is a San Francisco-headquartered Y Combinator-backed platform connecting web and mobile apps to Google Sheets and Excel spreadsheets as backends. Developers build data-driven sites where spreadsheet updates sync bidirectionally with user interfaces. Used by thousands for MVPs and production apps, it eliminates custom databases for startups in e-commerce and SaaS. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 30 Oct 2017 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Instabase acquisitions and their M&A valuation multiples. Start Free Trial | |
Instabase Competitors
Instabase competitors include listed companies like Red Violet and Clarivate, and private ones like Moneyview, Tealium, 9fin and Keyfactor.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $90M | $24M | $1.2B | 11.7x | ||
| Publicly listed | $2.5B | $829M | $1.2B | 2.2x | ||
| Private | $108M | - | $1.2B | 11.1x | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.3B | - | ||
| Private | $100M | - | $1.3B | 13.0x |
Instabase Public Comps
Instabase is still privately-owned, but its public comps include Red Violet, Clarivate, Open Up Group, Matrix Design Co., BrightView, Beijing Join-Cheer, Amplitude, WingArc1st, Similarweb and Wintech Nano (Suzhou) Co.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $90M | $24M | 13.2x | 11.7x | 50.0x | 31.7x | |||
| $2.5B | $829M | 2.1x | 2.2x | 6.3x | 5.3x | |||
| $1.2B | $121M | 0.8x | 1.0x | 8.4x | 8.3x | |||
| $110M | $12M | 7.7x | 7.2x | 69.8x | - | |||
| $2.7B | $307M | 0.9x | 0.9x | 8.0x | 7.2x | |||
| $386M | $11M | 1.9x | - | 68.9x | - | |||
| $343M | ($76M) | 4.6x | 4.1x | (21.1x) | 98.8x | |||
| $199M | $70M | 3.5x | 3.3x | 10.0x | 10.5x | |||
This data is available for Pro users. Sign up to see all Instabase competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Instabase
| When was Instabase founded? | Instabase was founded in 2015. |
| Where is Instabase headquartered? | Instabase is headquartered in San Francisco, CA, United States. |
| Is Instabase publicly listed? | No, Instabase is a private, VC-backed company. |
| What is Instabase's valuation? | Instabase was last valued at $1.2B in its Series D in January 2025. |
| How much funding has Instabase raised? | Instabase has raised $292M across 6 funding rounds. |
| What was Instabase's last funding round? | Instabase's last funding round was a $100M Series D in January 2025, led by Qatar Investment Authority. |
| Who are Instabase's investors? | Instabase's investors include New Enterprise Associates, Greylock, Andreessen Horowitz, K5 Global, SC Ventures, Index Ventures, Spark Capital, Tribe Capital, Evolution VC Partners, Qatar Investment Authority and 4 others. |
| What is Instabase's revenue? | Instabase's latest recorded revenue is $50M (January 2025). |
| What is Instabase's revenue multiple? | Instabase's latest valuation implies a 24.8x revenue multiple ($1.2B valuation on $50M of revenue). |
| Which companies are comparable to Instabase? | Companies comparable to Instabase include Red Violet, Clarivate, Moneyview, Tealium, 9fin and Keyfactor. |
| How many companies has Instabase acquired? | Instabase has acquired 1 company, including Cloudstitch. |
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