Retool is a tech startup company that has grown substantially in the last few years. Founded in 2017 by David Hsu and John Tan, Retool provides a robust platform enabling businesses to quickly and easily build custom applications, dashboards, and workflows for their internal use; it transforms how companies make internal tools. Retool quickly attracted the attention of various angel investors and has raised more than $140M in venture capital funding. In 2022, they raised their Series C round from relevant venture capital investors like Sequoia.

Retool's Features Explained

Retool's platform is designed to make the process of building internal tools easy for non-technical users. It features a drag-and-drop interface allowing users to quickly create their applications using pre-built components. Companies can develop internal tools without relying on IT departments or third-party developers.

One of the main features of Retool is its ability to connect to a wide range of data sources, including databases, APIs, and excel spreadsheets. This means that users can quickly pull in data from various sources and use it to build custom applications and dashboards. It also provides users with a range of options for customizing their tools. They can adjust the look and feel of their applications with themes and templates or even customize the code behind them for more tech-savvy users.

Additionally, Retool includes support for third-party integrations like Slack, Zoom, Stripe, Salesforce, and many others. This allows companies to integrate their existing business systems into Retool's platform easily.

Opportunities and Risks

Retool's success can be attributed to its ability to address a key pain point for many businesses: the need for custom internal tools to address their specific demands, making them a very flexible solution for all types of businesses. However, they can face some competition risks; while it is currently the leader in the internal tools space, other companies are starting to offer similar solutions. Retool must continue to innovate and differentiate as more companies enter the market to maintain their competitive advantage.

However, today their main advantage over similar platforms is their focus on building internal tools, while other low-code platforms provide more general-purpose development tools. Given its current success, Retool keeps growing, making it an exciting investment opportunity for venture capitalists. 

Retool Startup Profile Now Available on aVenture

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Bruno Sanchez
Post by Bruno Sanchez
A venture capitalist with a B.S. in Economics and several years of experience in the field. With aVenture he's helping investors access venture capital.