Instabase announced completion of a Series C round for $45 million. This values the company at $2 billion, double the valuation from its Series B round of 2019. Instabase is now the most valuable software company whose main business is to provide solutions for unstructured document or data processing. How did they get here?
Over-reactions to technology stories that gain mainstream traction are not unusual (nor is the desire to grift for personal benefit from the event, sadly), but what sets this cycle apart is the relative accessibility of the technology coupled with the extreme nature of the reaction.
Foundational Large Language Models (LLMs) are now widely available to developers and – just as importantly – are now economically feasible for business applications. This marks the beginning of the 4th Wave of IDP.
Recently, Botminds, Skan, Hyperscience, and IPwe all caught our attention.
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