Instabase, an insurtech specializing in applied AI for unstructured data, has closed a $100 mn Series D funding round. The investment was led by QIA, with participation from Greylock Partners, NEA, Andreessen Horowitz, and Index Ventures.
This funding will accelerate the development of Instabase’s AI Hub, a platform designed to help enterprises manage unstructured data, including emails, multimedia files, and PDFs.
Instabase, founded in 2015 by Anant Bhardwaj, is a San Francisco-based technology company specializing in applied artificial intelligence (AI) solutions for unstructured data. The company offers a platform that enables enterprises to automate complex business processes, such as intelligent document processing, by embedding AI into their systems.
New investment reflects our partners’ trust in our mission and the impact of the Instabase platform on enterprises of all sizes
Anant Bhardwaj, Instabase’s founder and CEO
With this investment, Instabase aims to grow its customer base and strengthen its leadership in unstructured data management.
Instabase raised $3.75 mn in August 2015 during a Seed funding round from Greylock Partners and New Enterprise Associates. In May 2017, the company secured $23.2 mn in a Series A round led by Andreessen Horowitz.
By October 2019, it obtained $105 mn in a Series B round led by Index Ventures, with participation from Spark Capital, Tribe Capital, SC Ventures, and Glynn Capital, pushing its valuation beyond $1 bn. In June 2023, Instabase raised an undisclosed amount in a Series C round, doubling its valuation to $2 bn.

Anant Bhardwaj added, “Companies cannot unlock their AI potential without first learning from the unstructured data within their organizations. With our foundation in intelligent document processing, our AI agents’ advanced content understanding, and the platform’s secure architecture that keeps data in place while simplifying workflows, Instabase is the ideal enterprise partner.”
AI agents are transforming industries by creating efficiencies across the board. Our focus on distributed enterprise solutions is driving a new era of business operations.
Mohammed Al-Hardan, Head of TMT at QIA
Instabase’s federated architecture meets enterprise-grade security needs, making it a trusted partner for large organizations. Its clients include governments, enterprises, insurers, and four of the five largest U.S. banks.
Instabase’s AI-powered technology enables businesses to analyze and utilize unstructured data. It automates processes, delivers actionable insights, and uncovers new opportunities.
Maintain full control over your data, including where it’s stored and processed. “You can even connect your own cloud storage. Our comprehensive security program spans administrative, organizational, technical, and physical safeguards and is designed to comply with leading global frameworks”, Anant Bhardwaj says.