Retool

Retool

Simplifies development of internal business tools

About Retool

Simplify's Rating
Why Retool is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Data & Analytics

Enterprise Software

Company Size

201-500

Company Stage

Series C

Total Funding

$160.6M

Headquarters

San Francisco, California

Founded

2017

Overview

Retool simplifies the creation of internal tools for businesses, focusing on developers, IT teams, and technology leaders. Its platform allows users to build custom applications by connecting to various databases and APIs, such as Postgres, REST APIs, GraphQL, Firebase, and Google Sheets. Users can create applications using a drag-and-drop interface, which reduces the need for extensive coding and makes it accessible to those with limited programming skills. Retool handles data fetching and user interface concerns, allowing developers to concentrate on customizing their tools. The company operates on a subscription model, offering features like on-premises installation and collaborative app editing, with enterprise solutions for larger organizations. Retool addresses the need for efficient internal tools, helping businesses streamline operations and improve productivity without straining their development resources.

YC Company
Simplify Jobs

Simplify's Take

What believers are saying

  • Retool's expansion to external apps broadens its market reach.
  • Partnership with OpenAI enhances AI capabilities in business applications.
  • Growing demand for low-code platforms boosts Retool's market potential.

What critics are saying

  • Increased competition from other low-code platforms may erode market share.
  • Expansion into external apps could introduce security vulnerabilities.
  • Dependence on third-party APIs poses risks if services change or fail.

What makes Retool unique

  • Retool enables rapid internal tool development with a drag-and-drop interface.
  • It supports integration with various databases and APIs, enhancing flexibility.
  • Retool's platform is accessible to users with limited programming skills.

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Funding

Total Funding

$160.6M

Above

Industry Average

Funded Over

5 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Below Average

Industry standards

$50M
$45M
Retool
$50M
Medium
$62M
SeatGeek
$100M
Oura

Benefits

Competitive healthcare, dental and vision benefits.

Breakfast, lunch and dinner at our San Francisco and New York offices.

$1,200 annual stipend for anything learning-related (books, conferences, classes, etc.).

$1,000 work-from-home-setup stipend.

Take the time you need to recharge!

Family planning support and paid parental leave.

Enrollment and matching up to an effective rate of 4%.

Mental health and wellness benefits

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-1%

2 year growth

-1%
MarTech Cube
Jul 5th, 2024
Retool Announces General Availability of Retool for External Apps

Retool, the leading developer-focused software development platform, today announced the general availability of Retool for External Apps, the easiest way to build rich interactive portals and business applications for customers, vendors, and partners in hours (instead of months).

TechCrunch
Jun 26th, 2024
Retool Expands Its Low-Code Platform For Creating Internal Apps To Support External Apps, Too

Since launching in 2017, Retool has made a name for itself as one of the premier low-code tools for building browser-based internal line-of-business applications. The well-funded startup’s service is now used at thousands of companies, including Amazon, OpenAI, Pinterest, Plaid, Snowflake, Taco Bell and Volvo. Now, it’s expanding its focus from internal apps to also include external apps. Aptly named “Retool for External Apps,” this new service is now generally available and aims to make it easy for any business to quickly and efficiently build secure and performant apps for a far wider audience than before.As Retool CEO and co-founder David Hsu told me, quite a few companies already started using External during its preview phase. Among those are quite a few larger businesses like Orangetheory, for example, which provided a Retool app to over 1,600 of its studio managers, as well as quite a few startups that are using the service to build MVPs while trying to find product/market fit.For the most part, we’re not talking about consumer applications. While it’s possible to build these — and some people are — Retool’s focus is on business apps, not the next social network.“The core idea behind Retool is basically that all internal tools have the same building blocks

MongoDB
Nov 14th, 2023
Atlas Vector Search Commands Highest Developer NPS in Retool State of AI 2023 Survey

Retool has just published its first-ever State of AI report and it's well worth a read.

DBTA
Oct 6th, 2023
Retool Workflows Empowers Code-First, Building Block Automation for Developers

Retool, the leading development platform for business software, is launching the GA of Retool Workflows, a building block-based automation tool engineered to help developers accelerate their business processes.

EU-Startups
Sep 27th, 2023
Eu-Startups Club: Discover 30+ Exclusive Benefits And Software Deals For Our Members

Aside from unrestricted access to our editorial archive, startup database, free job posts, and members-only content, an EU-Startups CLUB membership also provides you with access to exclusive deals for some of the world’s best SaaS products and services for startups. Below we are introducing you to 30+ deals, which represent a total value of over €22,000 for our CLUB members. Many more deals are coming up shortly. Stay tuned!Retool is the fastest way to build your own custom internal tools. Stop fighting with UI libraries, hacking together data sources, and figuring out access controls. With Retool you can start shipping apps that move your business forward

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