Retool offers a developer-focused platform for building internal applications using a drag-and-drop interface combined with hand-written code to cover the final 20–30% of customization. Its core product consists of roughly 90 prebuilt components that connect to any REST or GraphQL API and data stores such as PostgreSQL and MongoDB, enabling rapid assembly and validation of internal tools. Since its 2017 founding, customers have built more than 500,000 apps on the platform, with “billions of queries” indicating strong usage across enterprises including Amazon, Pinterest, Coursera, the NFL and NBCUniversal. Retool says the approach can compress typical development timelines (two weeks) down to a day for many tasks, and the company emphasizes flexibility for private cloud, on-premise, and legacy-system environments. Future plans stated in the article include expanding functionality to support customer-facing and potentially consumer-facing apps. The company plans to use the new funds to hire more talent, build deeper functionality, and expand geographically from its San Francisco base. Retool, led by co-founder and CEO David Hsu, provides developers tools to connect databases, APIs and internal systems and to build internal user interfaces that are hackable and extensible via JavaScript. The company powers over a quarter million business applications and is used by thousands of teams across startups and enterprises. Customers cited include Hopin, Descript, Brex, Amazon, Pinterest, Conagra, DoorDash and Peloton. Retool raised $20M in a Series C that valued the company at $1.85B. The firm intends to use the proceeds to hire talent and accelerate product development across several new product lines. The product focuses on simplifying UI building and the ancillary work required for internal apps, giving developers the ability to customize the last mile of every app. Retool provides a low-code platform that lets customers assemble internal applications quickly using drag-and-drop components and then customize them with their own code. The company says developers can build applications up to 40 times faster using its tools. Customers include Amazon, Mercedes‑Benz, Progressive, Peloton, and Rakuten. Retool was founded in 2017 by David Hsu after he recognized the time wasted building internal apps. Hsu presented Retool at Y Combinator Demo Day, and the company subsequently raised a $1 million seed round which accelerated customer sign-ups. Most recently, Retool raised $50 million at a $925 million valuation led by Sequoia Capital.

Total raised

$115M

Funding rounds

3

Latest round

Series C

Latest activity

Jul 2022