Airbase is a spend management platform for mid-market businesses, combining accounts payable, expense management, procurement, and corporate cards in one system.[1][2] It was founded in 2017 and was led by CEO Thejo Kote.[2]
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$600M
Acquisition, 2024, Perplexity
UpMarket Estimate
$570M
Based on UpMarket valuation model
How to Invest in Airbase Through UpMarket
Airbase shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Airbase offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
${{aum_amount_brokered_en}}B+
UpMarket has brokered over ${{aum_amount_brokered_en}} billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through {{aum_as_of_date_en}}. Of the total, approximately ${{aum_amount_managed_en}} million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
2024
Acquisition
$600M
Why Investors Are Watching Airbase
Growth Signal
Airbase said ARR grew 4x in 2019 during its Series A
TechCrunch reported Airbase expanded annual recurring revenue 4x in 2019 and said it was targeting the same result again. The company also added a $23.5 million Series A extension, bringing total funding to just under $31 million at the time.
Market Opportunity
Airbase targeted mid-market and enterprise spend management
Sacra says Airbase serves mid-market and enterprise customers, primarily organizations with more than 100 employees. Its estimated 2023 revenue was $70 million, up 27% year over year, showing room to expand in a large category.
Risk Factor
Airbase took a $150M Goldman Sachs credit facility
Built In SF reported Airbase secured a $150 million credit facility from Goldman Sachs for its spend-management business. The size of the facility signals capital intensity and dependence on external financing to support growth.
Interested in Airbase stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
UpMarket curates and conducts independent diligence on every investment opportunity before it reaches the platform.
Strategy, fees & legal reviewed in full
We review every offering's strategy, risk management, liquidity, fees, valuation methodology, tax matters, and all third-party providers — legal counsel, auditor, administrator, and custodian.
Disciplined managers only
We offer investments exclusively from disciplined managers that pursue unique strategies across an array of asset classes.
Built around your objectives
Our goal is to empower you to build a portfolio that best meets your individual investment objectives.
No. As of March 2026, Airbase is a private company and does not trade on any public stock exchange. Accredited investors can access Airbase shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Airbase does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Airbase shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Airbase shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Airbase’s spend management platform unifies accounts payable, expense management, procurement, and corporate cards for mid-market businesses, with ARR growing 4x in 2019 during its Series A and a $570M valuation — accredited investors can access Airbase stock through UpMarket.