What a difference three years makes for Airtable.
Back in November 2018, Fast Company reported how the workplace-collaboration platform had entered into unicorn territory with a $100 million funding round that gave it a valuation of $1.1 billion.
Today, Airtable is worth 10 times that amount, thanks to $735 million in new funding led by XN, along with Franklin Templeton, J.P. Morgan Growth Equity Partners, Michael Dell’s MSD Capital, Salesforce Ventures, and Silver Lake. Funds advised by T. Rowe Price Associates also joined the round, according to Airtable.
The new funding gives the San Francisco-based company a “pre-money” valuation of $11 billion. That figure would bump it up significantly on the list of the world’s most valuable startups.
Airtable’s collaboration tools have grown more useful as it has expanded from being essentially a hybrid spreadsheet and database into a customizable “low code” software platform for creative workspaces.
Despite its rapid growth and increasing speculation about an IPO, the company doesn’t seem to be in any hurry to go public. Reached for comment on Monday, an Airtable spokesperson said “no official timetable has been set.” A year ago, CEO Howie Liu basically told me the same thing, saying the company was focused on “furious innovation” and that going public was “not top of mind.”
If anything, the new funding announced this week could give Airtable the breathing room to keep taking its time.