Instabase Secures $100M to Enhance AI-Powered Data Processing Capabilities
San Francisco-based Instabase has announced the completion of its Series D funding round, raising $100 million to advance its AI-powered data management platform. The investment was led by the Qatar Investment Authority, with participation from previous backers such as Greylock Partners, NEA, Andreessen Horowitz, and Index Ventures. According to Bloomberg, this latest round values the company at $1.24 billion, a decrease from the $2 billion valuation achieved in 2023 during its prior funding round.

Specializing in unstructured data processing, Instabase provides businesses with a platform capable of handling information that cannot be easily organized into standard formats like rows and columns. The platform extracts data from various documents, standardizes it, and makes it accessible for integration with other systems. This functionality aims to reduce time spent on manual tasks while minimizing the potential for errors in data entry.
The platform is versatile in its ability to process data from PDFs, multimedia files, scanned handwritten notes, and other records. When faced with documents containing multiple sections, Instabase can automatically separate them to facilitate streamlined processing. The system supports more than 160 languages and handles documents that span thousands of pages.
Users interact with the platform through natural language commands to specify the data they wish to extract. For example, an employee might request the system to extract product prices listed in a document. Moreover, the platform includes features to modify the extracted data, such as rounding numerical values to the nearest whole number when needed.
Before processing, Instabase conducts error checks on files to identify inaccuracies. For instance, it can review accounting spreadsheets for miscalculations or other mistakes. Additionally, users can manually verify extracted data by comparing it directly with the source document through a built-in validation tool.
Once processed, the platform organizes data according to user-defined formats and makes it accessible via an application programming interface (API). This capability ensures seamless integration with other business systems and workflows.
Beyond its core functionality, Instabase also offers a chatbot that enables users to interact with business records using prompts. A user might request the chatbot to analyze earnings reports and calculate the compound annual growth rate (CAGR) over the last five years. To ensure transparency, the platform provides step-by-step explanations of its calculations, allowing users to validate the results.
For organizations with specific needs, the platform allows for the creation of custom chatbots. For instance, a retailer could develop a chatbot that answers frequently asked product-related questions based on existing knowledge base content.
Founder and CEO Anant Bhardwaj commented on the significance of managing unstructured data, stating, “As we progress through the AI age, companies cannot realize their AI capabilities without first harnessing and learning from the unstructured data that lives within every organization.”
The company plans to use the newly secured funding to further develop its data extraction, analysis, and search functionalities, aiming to expand its role in business automation and AI-driven solutions.