Airtable announced Monday that it raised $735 million in fresh funding, bringing its total pre-money valuation to a whopping $11 billion — nearly double what it was less than a year ago. The round was led by NYC-based investment firm XN, and is coming at a time of rapid growth for both the tech startup and the low-code software industry it is at the forefront of.
Founded in 2012, Airtable has become synonymous with the low-code and no-code revolution we seem to be in the midst of. Its platform, which allows users to handle workflows and share information with little to no code on the back-end, is used by major brands like Amazon, IBM, Netflix and Nike to manage everything from marketing to finance. The company also recently launched a new Interface Designer tool, which helps teams design fully interactive, front-end experiences and apps.
Now, co-founder and CEO Howie Liu says this fresh funding will be used to invest “even more aggressively” in product development, as well as scale Airtable’s team and infrastructure so that it is “capable of supporting a much larger, worldwide customer base.” The company is also hiring, with nearly 100 open tech positions at its Bay Area headquarters.
“As we’ve sharpened our focus on the needs of enterprise businesses, customers are scaling their use of our products to department and company-wide processes, establishing Airtable as a source of truth for their most valuation operations,” Liu added in a statement.
Of course, Airtable is not the only company taking a bite out of this burgeoning sector. No-code platform Bubble raised a massive $100 million Series A earlier this year, joining Unqork, Squarespace and the several other startups pulling in nine-figure rounds amid exponential growth. It’s safe to say, though, that Airtable is among the key players in this space, and will continue to grow thanks to this latest investment. The company also recently opened a new office in Austin.
“The decentralization of software development represents one of the largest opportunities in all of technology and will unleash a critical wave of innovation of productivity,” XN founder Gaurav Kapadia said in a statement. “We are thrilled to support Howie and his team as they continue to scale their thriving enterprise business and put the power of software creation in the hands of millions of knowledge workers.”
