Instabase

Instabase sells an AI platform that extracts and processes information from unstructured documents such as loan files, invoices and identity records, used for lending, KYC, claims and client onboarding work. Its AI Hub product, launched in 2023, adds generative AI tools for building document understanding applications. Customers named by the company include AXA, Rocket Mortgage, Paychex, NatWest and Isbank, and in 2023 TechCrunch reported that four of the five largest U.S. banks used it. The company was founded in 2015 by Anant Bhardwaj, who left a PhD program to start it and remains chief executive. It is headquartered in San Francisco with offices in New York, London and Bangalore.

Greylock Partners and New Enterprise Associates were the first investors, leading a $3.75 million seed round in August 2015; the company's Form D reports $3,750,007 sold with a first sale on August 18, 2015. In 2017 it raised a $23.2 million Series A led by Martin Casado of Andreessen Horowitz, matching a May 2017 Form D for $23,168,934. In October 2019 Index Ventures led a $105 million Series B, with Spark Capital, Tribe Capital, SC Ventures and Glynn Capital participating, at a valuation reported above $1 billion. In June 2023 it raised $45 million led by Tribe Capital, with Andreessen Horowitz, NEA and Spark Capital, at a $2 billion valuation, double the prior mark; it had about 350 employees at the time. In January 2025 the company announced a $100 million Series D.

Instabase remains private. The company's investor list also includes Original Capital and K5. It has not published revenue figures in the sources reviewed, and no valuation was disclosed for the 2025 Series D in the material available. Recent company announcements include the Rocket Mortgage deployment for loan approvals in June 2024 and AI chatbots for enterprise use cases.

Instabase shows how an early enterprise infrastructure bet was repositioned around generative AI. Greylock and NEA entered at the seed in 2015, a16z at the Series A and Index at the 2019 unicorn round, and the 2023 round doubled the valuation by tying the product to large language models at a time when AI was drawing capital. Roughly ten years after founding, its backers have no liquidity event yet, and the Series D tests whether the 2023 valuation holds.