AI startup Base has raised $60 million in a Series B financing round led by a group of investors that includes Vanguard and T. Rowe Price, according to Bloomberg. The new funding values the company at about $500 million.

Base builds software aimed at automating enterprise workflows, part of a broader wave of companies seeking to use artificial intelligence to reduce manual business tasks and improve efficiency. The latest round suggests investor appetite remains strong for AI tools focused on practical workplace applications.

The participation of major asset managers such as Vanguard and T. Rowe Price highlights how large, traditional financial firms are increasingly placing capital behind private technology companies, especially in sectors with clear commercial use cases. For Base, the fresh funding should help support product development and expansion.

The deal also reflects continued competition in the AI startup market, where valuations remain elevated for companies that can show traction with enterprise customers and a path to scaling beyond early adopters.