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Instabase Raises Massive $105M Series B, Reaches Unicorn Status

Instabase, a startup aiming to “reimagine business apps from the ground up,” announced today that it’s raised a massive $105 million Series B led by Index Ventures in a round that the company says values it at “over $1 billion.”

Existing investors Greylock Partners, New Enterprise Associates (NEA), and Andreessen Horowitz joined Spark Capital, Tribe Capital, SC Ventures, and Glynn Capital in participating in the round.

As part of the funding, Index Ventures partner Sarah Cannon will join Instabase’s board.

“Today, on your smartphone you have an app store where you can find a dozen apps to have food delivered to your door, but we don’t have an app store where large enterprises, for example, a bank can find an app for income verification; or an insurance company can find an app for processing claims; every such application is custom built,” said Anant Bhardwaj, CEO and founder of Instabase, in a press release.

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