Retool Raises $45 Million at $3.2 Billion Valuation

Retool is a low-code platform that helps businesses to build up internal tools such as custom apps, custom apps, dashboards, and other necessary tools for running critical operations. Retool offers to use its platform for building powerful tools, instead of building them from scratch by itself. The app builder provided has drag-and-drop blocks to assemble apps in a minute.

The funding round investments came from Sequoia Capital, Stripe co-founders John and Patrick Collison, GitHub’s former CEO Nat Friedman, Elad Gil, Daniel Gross, and Caryn Marooney, partner at Coatue Management. “Retool sits at the intersection of two major trends: the rise of the developer, and the increasing importance of operational excellence after a pandemic that compressed a decade of digital transformation into two years,” said Bryan Schreier, a partner at Sequoia.

Retool, San Francisco, the USA, was founded by David Hsu in 2017. As of now, more than 500 000 apps have been built using Retool platform. Among the company’s customers are Amazon, Pinterest, Coursera, NFL, and NBCUniversal. “The flexibility and ease of Retool’s platform have transformed the scope of our internal tools roadmap from being years long to months long. Retool has changed the way we operate,” Shon Saoji, senior engineering manager at Coursera. The platform is built around 90 components to fit together. The number is not as big; however, it is quite enough to get basic building blocks such as forms, tables, and charts. Moreover, the platform provides its users with special tools to verify that everything works as it should. 

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