What is Retool?
Founded in 2017, Retool provides a powerful tool development platform designed to enable businesses to build custom internal applications without requiring extensive programming knowledge. The platform's core functionality allows for the creation of interfaces that can display and manipulate data with custom workflows, thereby enhancing the speed and accuracy of operations. This empowers development teams to focus on core product innovation while equipping them with the necessary tools for operational success. Retool operates within the software development and business process automation space, offering a solution that bridges the gap between complex data management and user-friendly application interfaces.
How much funding has Retool raised?
Retool has raised a total of $135M across 3 funding rounds:
Series A
$20M
Series B
$50M
Series C
$65M
Series A (2019): $20M with participation from Steamboat Ventures
Series B (2020): $50M led by Y Combinator, Stripe, Gusto, Steamboat Ventures, GitHub, Plaid, PagerDuty, and Segment
Series C (2022): $65M supported by Daniel Gross, Sequoia Capital, Elad Gil, Caryn Marooney, and Nat Friedman
Key Investors in Retool
Sequoia Capital
Sequoia Capital is a prominent venture capital firm known for its early and growth-stage investments across various technology sectors, with a global presence and a track record of backing market leaders.
Elad Gil
Elad Gil is a seasoned technology entrepreneur and investor with a focus on AI and future technologies, known for his involvement in successful startups and his influential book 'High Growth Handbook'.
Y Combinator
Y Combinator is a highly selective startup accelerator that provides seed funding and mentorship to early-stage companies, playing a crucial role in launching numerous successful tech ventures.
What's next for Retool?
The recent influx of major strategic investment positions Retool for accelerated growth and further platform development. This significant capital infusion is likely to fuel expansion into new markets, enhance existing features, and potentially explore strategic acquisitions. The company's trajectory suggests a focus on solidifying its market leadership in providing efficient development tools for business applications, aiming to further streamline internal operations for a wider range of enterprises.
See full Retool company page
