Airtable Surges to $5.77 Billion Valuation after Securing $270 Million in Series E Funding

Airtable achieved an impressive $5.77 billion valuation following a successful $270 million Series E funding effort. The no-code relational database provider has a broad user base that currently includes over 250,000 organizations. The new funding almost triples the firm's previous valuation, which stood at $2.85 billion post-money after a $185 million Series D round in September.

Greenoaks Capital led the recent investment round, with contributions from WndrCo, as well as existing investors such as Caffeinated Capital, CRV, and Thrive. Rather than actively seeking funding, Airtable's Founder and CEO Howie Liu disclosed to Forbes that the company was approached by Greenoaks.

Airtable's platform is often described as an enhanced version of Excel or Google Sheets, offering the architecture required to support an application ecosystem in addition to its traditional spreadsheet-like features. As a result, the versatile no-code tool can be utilized for software development, presenting virtually limitless use cases and an extensive potential customer base. Such platforms, including AppMaster, are gaining momentum as they empower businesses to build web, mobile, and backend applications efficiently and without the need for coding expertise.

In a press release, Greenoaks Capital partner Neil Mehta highlighted the vast potential of Airtable, stating that the firm could become the 'residual' software platform for various custom applications that are currently operated manually or inadequately served by inflexible third-party software. By providing business users with essential software components that can be easily combined to form powerful business applications, Airtable has become a core part of everyday workflows while still possessing the scalability and extensibility necessary to handle complex enterprise use cases such as ticketing, content management, and CRM.

Airtable intends to use the newly-acquired funding to foster development of its enterprise product and facilitate expansion of its team. Since its inception, the company has raised a total of $617 million, according to Crunchbase. The no-code platform industry continues to thrive, with companies like AppMaster.io offering powerful tools capable of creating backend, web, and mobile applications. These platforms significantly expedite application development while minimizing costs, making them an attractive option for businesses of all sizes.