Startup Instabase Notches $2 Billion Valuation, Incorporates New AI
The company’s workplace apps are now powered in part by OpenAI.
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Business services startup Instabase Inc. has raised a new round of funding that doubles its valuation to $2 billion, a deal buoyed by the company’s use of new generative artificial intelligence tools in its suite of corporate products.
Instabase said it raised $45 million in the round, which was led by existing investor Tribe Capital. Tribe co-founder Arjun Sethi will take a board observer seat. Other investors included Andreessen Horowitz, New Enterprise Associates and Spark Capital.