Open-source Developers Platform ToolJet Raises Fresh Funding
ToolJet, an open-source low-code developers platform, has raised funding from M12, the venture arm of Microsoft, and cloud-based software development platform GitHub.
As per the startup, the freshly raised funds will be used for workforce expansion and advancing its artificial intelligence (AI) capabilities within the platform.
ToolJet | Open-source Developers Platform
Founded by Navaneeth Padanna Kalathil in 2021, ToolJet is an open-source low-code developers platform that offers secure on-premise installation, enabling users to control their data even without internet connectivity.
Commenting on the development, Priyanka Mitra, Partner at M12 and Co-founder of the M12 GitHub Fund,
“Impressed by Navaneeth and the ToolJet team and their approach to low-code enterprise app building via the engagement of the open source community, we believe that low-code development is a key way for businesses to accelerate their innovation and are committed to supporting ToolJet in their mission.”
With this investment, the startup is well-positioned to accelerate our growth and reach more businesses around the world. The freshly raised funds will help the startup to accelerate its growth and reach more customers. It will help expand the team, develop new features, and grow the community.
The funding will also help the startup integrate AI and machine learning capabilities into the platform, allowing ToolJet users to build more intelligent and custom applications.
As per the startup, low-code development is a key way for businesses to accelerate their innovation. Low-code platforms make it possible for businesses to build applications quickly and easily without having to rely on expensive and time-consuming custom development.
The platform is popular among developers and teams across Fortune 500 companies, scaleups and startups worldwide and has about 20,000 stars and 350 contributors on GitHub.
In February 2023, ToolJet raised $4.6 million from Nexus Venture Partners. January Capital, Ratio Ventures, Better Capital, and a bunch of angel investors.
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