Retool joined the Unicorn Club on December 22, 2021, after raising a $20 million Series C funding round led by Sequoia Capital, valuing the company at $1.85 billion. Headquartered in San Francisco, United States, Retool is a low-code development platform that enables teams to build internal tools rapidly using a drag-and-drop interface. With $135 million in total funding and 124 employees (as of December 2021), Retool simplifies the building of dashboards, admin panels, and workflows by integrating directly with databases and APIs, empowering both developers and non-developers to build production-grade tools efficiently.
Keep reading to explore Retool’s product capabilities, funding history, and what’s next for this fast-growing low-code leader.
What Is Retool and What Does It Do?
Founded in 2017, Retool provides a low-code internal tools development platform designed to help businesses quickly build web and mobile applications for internal use. The platform enables users to drag and drop UI components, such as tables, forms, and charts, and connect them directly to databases, APIs, and third-party services like PostgreSQL, Salesforce, and REST endpoints.
Retool is designed for software engineers and operations teams who want to build powerful applications without spending weeks on custom front-end development. Its template library and customizable components accelerate the process of building tools, such as admin dashboards, inventory systems, and workflow automations.
With features such as role-based access controls, Git-based versioning, and on-premises deployment, Retool appeals strongly to enterprise users who prioritize data security and compliance. The platform has been widely adopted by companies like Amazon, DoorDash, NBC, and Stripe for mission-critical internal operations.
How Much Funding Has Retool Raised?
- Series C
- Amount Raised: $20M
- Date: December 22, 2021
- Lead Investor: Sequoia Capital
- Purpose: To expand Retool’s low-code platform capabilities, enhance developer experience, and accelerate enterprise adoption.
- Extended Series C
- Amount Raised: $45M
- Date: July 28, 2022
- Valuation: $3.2B
- Investors: Bond Capital, Madica, and others
- Previous Rounds
- Series B (2020): $50M led by Sequoia Capital
- Series A (2019): $25M led by Sequoia Capital and Bedrock
Total Funding Raised: $135M
Latest Funding Date: July 28, 2022
Current Valuation: $3.2B
Employee Count: 124 (as of December 31, 2021)
Key Investors
- Sequoia Capital
- Details: Leading venture capital firm backing global software innovators.
- Investment Focus Areas: SaaS, enterprise software, and low-code development.
- Bond Capital
- Details: Growth-stage investment firm co-founded by Mary Meeker, focusing on category-defining technology companies.
- Investment Focus Areas: Cloud infrastructure, developer tools, and enterprise tech.
- Madica
- Details: Early-stage fund supporting scalable technology startups with long-term growth potential.
- Investment Focus Areas: B2B software, developer productivity, and AI infrastructure.
Where Is Retool’s Headquarters?
Retool is headquartered in San Francisco, California, United States, with growing teams across New York, London, and Singapore. Its strategic location near Silicon Valley enables collaboration with major enterprise clients and access to developer communities, driving innovation in the low-code/no-code ecosystem.
What’s Next for Retool?
Retool is expected to further expand its enterprise footprint by enhancing platform scalability, introducing AI-assisted app generation, and improving integrations with popular SaaS and database tools. The company is also focusing on creating mobile-first internal tools, enabling organizations to deploy responsive applications that work seamlessly across devices.
As low-code development continues to transform enterprise software delivery, Retool aims to become the standard toolkit for building custom internal applications, bridging the gap between technical and non-technical teams. Future plans include global expansion, developer-focused community initiatives, and advanced support for on-prem and hybrid deployments.
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