Instabase recognized as one of the fastest growing companies by Inc. 5000

Instabase has been recognized as one of the Inc. 5000 fastest growing companies in the U.S. for the second consecutive year. This prestigious honor highlights our consistent growth as the leading AI platform for turning unstructured data into insights.

To qualify for the 2024 list, companies had to be privately held, have been founded and generating revenue by March 31, 2020, and have achieved a minimum revenue of $100,000 in 2020 and $2 million in 2023. Rankings are determined by percentage revenue growth over this three-year period.

Achieving this recognition for two years in a row is a testament to the hard work and commitment of our team and the continued trust of our customers. We’re excited to keep pushing boundaries and delivering outstanding tools to help you activate all your data. Thank you for being a part of our growth.

PRODUCT UPDATES

Platform Updates

• Pricing: AI Hub is making several changes related to pricing, model support and selection, and billing. Overall rates are decreasing for all models. Preview all upcoming changes to the pricing policy
• AI Hub Enterprise Tier: A new subscription-based enterprise offering is now available. AI Hub Enterprise is suitable for organizations with advanced requirements. Compare AI Hub subscription plans , and reach out to Customer Support to learn more.
• Advanced Apps: Enterprise customers can request advanced apps to address complex use cases that aren’t natively supported in AI Hub. For more details, reach out to Customer Support.

Chatbots and Converse

• Research Mode: Starting August 19, Converse and Chatbots will offer the ability to toggle Research mode for all queries. Research mode uses a more powerful variant of the Multistep model and is suited for complex reasoning prompts, but can result in longer execution times. Research mode follows the Multistep model’s pricing.

Faster, Better App Development

• Autosave: Classes and fields are now autosaved as you work, and the Save button is removed from the editing panel. For certain actions, such as adding descriptions to classes or fields, you can click Run to generate a result.
• Improvements in Error Handling: For Commercial and Enterprise customers, custom cleaning functions and custom validation functions provide improved error handling. Custom functions now return basic error messages instead of reporting misleading messages about failure or no value returned. Additionally, if a custom function results in any logs or errors, the logs panel opens automatically and an alert icon is displayed for errors.
• OCR Confidence: For organization users, OCR confidence scores are now available alongside field results, and you can establish custom cleaning functions validation rules.

Human Review

• Human Review Workflows: Human review is now integrated into Workspaces and deployments. When a review-enabled deployment run fails a validation, all documents from the run are added to a review tab in Workspaces. Any member of a workspace can review documents, but only workspace managers can close reviews. Additionally, Enterprise customers can specify service-level agreements for reviews as part of a deployment.
• Classification Improvements in Human Review: For organization users, changing the class of a document in human review will cause the app to reprocess the document to identify field results for the new class by default.

Going Into Production

• Deployments: You can now configure deployments , which let you run apps at scale with automation, integration, and human review.
• Run With API: You can now run an app or deployment using APIs from within AI Hub using auto-generated code and integrated step-by-step guidance. Click Run with API from any app or deployment to access the API runner.

LATEST NEWS AND INSIGHTS

AI Hub for Enterprise Automates Document-Heavy Processes at Scale

Instabase AI Hub for Enterprise is now available , helping enterprise companies handle complex, real-world use cases and unlock insights from their data with generative AI. AI Hub for Enterprise offers a comprehensive suite of tools for quickly building and deploying robust AI applications, as well as critical features that meet the needs of enterprises.

Rocket Mortgage Partners With Instabase to Speed Up Loan Approvals and Elevate Client Experience

Our partnership with America’s largest retail mortgage lender is helping Rocket Mortgage create automated workflows that process 1.5 million documents each month. Using the Instabase platform, along with other tools, Rocket Mortgage is now closing loans 2.5 times faster than the industry average and decreasing turn times by 25%.

Instabase Collaborates With DefineX to Spur Innovation in EMEA

Businesses in EMEA can expect accelerated digital transformation , enhanced operational efficiency, and improved decision-making as a result of our strategic collaboration with DefineX, a pioneering technology consultancy firm. Instabase’s cutting-edge platform combined with DefineX’s expertise in deploying innovative tech solutions tailored to the EMEA market are set to transform operations in the region.

Deepak Sharma Joins Instabase to Drive India Expansion

We’re pleased to announce that Deepak Sharma has joined Instabase’s Advisory Board. As a distinguished digital leader, entrepreneur, and investor in India, Deepak will use his profound understanding of the Indian market to help shape the innovative solutions that we deliver there.

Howard Levenson Appointed to Instabase Advisory Board

Instabase welcomes Howard Levenson to our Advisory Board. With over 30 years of experience in addressing complex information technology challenges in the federal sector, Howard is a tremendous asset to Instabase as we develop and deploy unique solutions for our federal clients.

UPCOMING EVENTS

AI Hub Advancements

AUG 20 | On-Demand Webinar

Finovate Fall

SEP 9 – 11 | New York, USA

Digitization of Claims Management

SEP 12 - 13 | Leipzig, Germany

AI for Financial Services

SEP 17 | Paris, France

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