Instabase is a platform that combines various tools and technologies such as natural language processing, optical character recognition, and machine learning to enable businesses to create custom applications that automate their workflows. Instabase platform combines language models such as GPT-4 and layout understanding that allows users to build custom solutions to understand any document quickly. For example, using Instabase, customers could build an app to automate things like income and identify verification processes, invoice processing, and receipt verification.
Instabase has raised $45 million in a Series C round led by Tribe Capital, with participation from Andreessen Horowitz, New Enterprise Associates, and Spark Capital. The new round has brought Instabase’s valuation to $2 billion — double its previous valuation — and comes as the company looks to increase its investment in generative AI.
Instabase, San Francisco, California, United States, was founded in 2015 by Anant Bhardwaj. “At Instabase, we’ve built a platform that’s trusted by some of the most demanding global enterprises in some of the most highly regulated industries,” said Anant Bhardwaj. “Instabase is a platform that enables organizations to apply the latest AI innovations to understand their unstructured data and build applications.”