Today, on your smartphone you have an app store where you can find a dozen apps to have food delivered to your door, but we don’t have an app store where a large enterprise, like a bank, can find an app for income verification, or where an insurance company can find an app for processing claims. Every such application is custom built. We should wonder — why?
While the idea of such an app store is appealing, it’s important to note that there is no real app store without good apps, and there can’t be good apps without good tools and good building blocks. Think of the iPhone: what made the app store successful was the underlying building-blocks and tools that iOS provided – Camera, Location, Phone, etc. – which developers and creators could use to build new apps such as Instagram and Uber.
The desktop, still an important interface for business applications, never built similar building blocks for businesses.
Instabase is a platform for businesses to build customizable apps for automating different parts of their business. For example, a bank can quickly build an app that can automatically verify customer income in a fraction of a second by combing through documents such as camera pictures or scans of paystubs, tax documents, bank statements, and other similar documents submitted by the customer. The platform comes equipped with the tools for reading documents, data extraction and classification, natural language processing, and optical character recognition. It is designed to enable creators, developers, and organizations to quickly build complex business applications based on their needs.
Instabase also offers an app store, a growing marketplace of pre-packaged business apps for different industries, such as Income Verification, Adverse Media Analysis, Identity Verification, Trade Finance, Contract Analysis, and Financial Spreading.
While the idea of such an app store is appealing, it’s important to note that there is no real app store without good apps, and there can’t be good apps without good tools and good building blocks. Think of the iPhone: what made the app store successful was the underlying building-blocks and tools that iOS provided – Camera, Location, Phone, etc. – which developers and creators could use to build new apps such as Instagram and Uber.
The desktop, still an important interface for business applications, never built similar building blocks for businesses.
Instabase is a platform for businesses to build customizable apps for automating different parts of their business. For example, a bank can quickly build an app that can automatically verify customer income in a fraction of a second by combing through documents such as camera pictures or scans of paystubs, tax documents, bank statements, and other similar documents submitted by the customer. The platform comes equipped with the tools for reading documents, data extraction and classification, natural language processing, and optical character recognition. It is designed to enable creators, developers, and organizations to quickly build complex business applications based on their needs.
Instabase also offers an app store, a growing marketplace of pre-packaged business apps for different industries, such as Income Verification, Adverse Media Analysis, Identity Verification, Trade Finance, Contract Analysis, and Financial Spreading.
Employees: 201-500
Phone: +1 415-525-4148
Total raised: $153.75M
Valuation: $1.05B
Founded date: 2015
Investors 8
Funding Rounds 3
Date | Series | Amount | Investors |
09.06.2023 | Series C | $45M | - |
27.10.2019 | Series B | $105M | New Enterp... |
31.08.2015 | Seed | $3.75M | - |
Mentions in press and media 35
Date | Title | Description |
12.07.2024 | VentureBeat’s Transform 2024 Innovation Showcase: Instabase gets most likely to succeed | Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Instabase was voted most likely to succeed at the Innovation Showcase for VentureBeat’s Transform 2024 event this... |
28.06.2024 | Announcing our 2024 VB Transform Innovation Showcase finalists | Don’t miss OpenAI, Chevron, Nvidia, Kaiser Permanente, and Capital One leaders only at VentureBeat Transform 2024. Gain essential insights about GenAI and expand your network at this exclusive three day event. Learn More The finalists for t... |
26.06.2024 | Rocket names Heather Lovier as chief operating officer | Heather Lovier replaced Bill Emerson as chief operating officer of Rocket Companies following the appointment of the board of directors on June 20. Emerson will remain as Rocket’s president. An industry veteran, Lovier joined Rocket Mortgag... |
25.06.2024 | Rocket Mortgage continues push into AI with Instabase partnership | The number of homebuyers who enjoy the process of getting a mortgage might be able to be counted on one hand. And while taking out a six- or seven-figure loan is probably never going to be fun, Rocket Mortgage has a plan to at least make it... |
04.10.2023 | Resistant AI Partners With Instabase To Offer Customers Document Fraud Detection | Resistant AI, the AI- and machine learning-powered financial crime prevention specialists announced that it has partnered with unstructured data automation platform Instabase. The partnership offers financial services organizations Resistan... |
09.06.2023 | Instabase emerges with $45M in recent funding round, launches AI Hub | Instabase emerges with $45M in recent funding round, launches AI Hub Instabase, a leader in Applied AI for the enterprise, announced its latest funding round of $45M along with the debut of its AI Hub, a repository of AI apps focused on con... |
08.06.2023 | Instabase Doubles Valuation to $2B and Launches AI Hub, A Generative AI Based Platform for Content Understanding | Instabase, a leader in Applied AI for the enterprise,announced its Series C funding round and the launch of AI Hub, a repository of AI apps focused on content understanding and a set of generative AI-based tools. The $45M Series C funding r... |
08.06.2023 | Instabase Raises $45M in Series C Funding | Instabase, a San Francisco, CA-based company which specializes in Applied AI for the enterprise, raised $45M in Series C funding. The round, which doubled its valuation to $2B, was led by Tribe Capital, with participation from Andreessen Ho... |
07.06.2023 | New tools suite aims to open up generative AI for the enterprise | It seems that generative AI is everywhere at the moment, but for businesses understanding how best to make use of the technology can be a bit of a puzzle. Instabase is aiming to help with the launch of a new AI Hub, this is a repository of ... |
07.06.2023 | Instabase unveils AI Hub, a generative AI platform for content understanding | Join top executives in San Francisco on July 11-12, to hear how leaders are integrating and optimizing AI investments for success. Learn More Applied AI platform Instabase today announced the launch of AI Hub, a comprehensive repository of ... |
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