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 rapid creation of interfaces that can display and manipulate data with custom workflows, thereby enhancing operational efficiency and accuracy. By equipping operation development teams with the necessary tools, Retool empowers businesses to concentrate on their core products and expertise, fostering innovation and streamlining business processes.
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 Plaid, Stripe, Gusto, Y Combinator, Steamboat Ventures, PagerDuty, Segment, and GitHub
Series C (2022): $65M supported by Daniel Gross, Caryn Marooney, Nat Friedman, Sequoia Capital, and Elad Gil
Key Investors in Retool
Y Combinator
Established in 2005 and located in Mountain View, California, Y Combinator provides seed funding for startup businesses and to gauge investors for businesses.
Steamboat Ventures
Steamboat Ventures, founded in 2000, focuses on helping young companies become market leaders. They invest in early to growth stage companies within the technology, media, and consumer sectors. The firm is dedicated to creating lasting value in each of its investments. Their approach emphasizes a commitment to nurturing and supporting the growth of their portfolio companies.
Sequoia Capital
Sequoia Capital in India currently manages funds capitalized at close to USD 1.4 billion and invests across venture, growth, and late stage opportunities. It takes a long-term view on investments and plays the role of an active, value-added partner to entrepreneurs, business families and management teams.
What's next for Retool?
The recent major strategic investment into Retool, following its significant enterprise-level funding, suggests a phase of accelerated scaling and product development. This capital infusion is likely to be directed towards expanding its engineering capabilities, enhancing its platform features, and broadening its market reach. The company's trajectory indicates a strong focus on solidifying its market leadership in the developer tool space, potentially exploring new integrations and enterprise solutions to further support its growing customer base.
See full Retool company page
