- Airtable is raising $100 million in a new funding round, Business Insider has learned.
- The latest funding round will value the spreadsheet app company at about $1 billion.
Airtable, a startup whose cloud-based spreadsheet app has skyrocketed in popularity over the past year, is closing in on a hefty new round of funding that sources say will make the company the newest entrant into Silicon Valley's unicorn club.
Sources say that the six-year-old software company will be valued at about $1 billion.
Benchmark, which missed out on Airtable's previous round of funding just six months ago, is among the investors putting a combined $100 million of capital into the startup.
It was unclear whether existing investors like Caffeinated Capital, CRV, Slow Ventures, and Freestyle Ventures would participate in the new round.
Airtable — which was founded in 2012 by alumni of Google, Salesforce, and Stack Overflow — has attracted a surge of interest from users and investors alike particularly among Silicon Valley developers.
The San Francisco-based startup says that more than 30,000 companies, including Target, Box, and Slack, use its product, which helps simplify complex information systems through its easy-to-use spreadsheets.
The company previously raised $52 million in funding in March.
Representatives for Benchmark did not respond to a request for comment. A spokeswoman for Airtable declined to comment.