Retool Revenue, Valuation, Funding & Investors
Retool is valued at $3.2B as of July 2022, a 26.7x multiple on its last reported $120M revenue.
Last Retool valuation
$3.2B
Series C · Jul 2022
Last Retool funding round
$45M
Series C · Jul 2022
Retool revenue
$120M
Series C · Jul 2022
Key investors in Retool
Nat Friedman
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Daniel GrossJohn Collison
Sequoia Capital
- Josh Reeves
Y Combinator
About Retool
Retool is a low-code platform that lets companies build internal software applications using a drag-and-drop interface backed by more than 90 pre-built components and over 40 data and API connectors, with the option to drop into code for custom logic. Based in San Francisco and launched in 2017, it targets engineering teams that need to assemble internal tools quickly rather than build them from scratch. Its customers include large enterprises such as Amazon, DoorDash, Coursera, and NBCUniversal.
Founded
2017
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$120M (Jul 2022)
Valuation
$3.2B (Jul 2022)
Retool Valuation
Retool is currently valued at $3.2B, based on its Series C in July 2022.
The $45M round was led by Sequoia Capital, with participation from Daniel Gross, Caryn Marooney, Nat Friedman and John Collison.
Retool's valuation has grown 3.5x from $925M at its Series B in October 2020 to $3.2B in July 2022, across 3 priced rounds.
Retool valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2022 | Series C | $3.2B | 26.7x |
| Dec 2021 | Series C | $1.9B | 15.4x |
| Oct 2020 | Series B | $925M | 7.7x |
Retool Revenue
Retool's latest recorded revenue is $120M, as of its Series C in July 2022. At a $3.2B valuation, that implies a 26.7x revenue multiple.
Revenue moved from $120M in October 2020 to $120M in July 2022, while the revenue multiple moved from 7.7x to 26.7x.
Retool revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2022 | $120M | $3.2B | 26.7x | Series C |
| Dec 2021 | $120M | $1.9B | 15.4x | Series C |
| Oct 2020 | $120M | $925M | 7.7x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Retool Funding History
Retool has raised a total of $141M across 5 funding rounds.
Retool's first fundraising round was a $1M seed round in September 2017. The most recent completed round was a $45M Series C in July 2022.
Retool funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Series C | Sequoia Capital (lead); Daniel Gross; Caryn Marooney; Nat Friedman; John Collison | $45M | $3.2B | Retool is a San Francisco-based low-code application development platform that enables teams to build internal tools rapidly using a drag-and-drop interface without requiring extensive custom coding. The platform provides visual design capabilities to interface with databases and APIs, with flexibility to switch to code for customization, and includes 90+ pre-built components and 40+ data and API connections. In July 2022, Retool closed a Series C2 funding round of $45 million at a post-money valuation of $3.2 billion, led by Sequoia Capital with participation from Stripe co-founders John and Patrick Collison, former GitHub CEO Nat Friedman, and investors Elad Gil, Daniel Gross, and Caryn Marooney. This round followed an earlier $20 million Series C in December 2021 (valued at $1.85 billion), with the company deliberately choosing a smaller second tranche to optimize for long-term health rather than valuation optics. The company has demonstrated strong enterprise traction, with customers like Coursera citing measurable operational benefits, and the capital was earmarked for headcount expansion, new product development, platform improvements, and international market expansion in an era when operational efficiency became a competitive advantage. |
| Dec 2021 | Series C | Daniel Gross (lead); John Collison (lead); Nat Friedman (lead); Sequoia Capital; Bond | $20M | $1.9B | Retool is a low-code software development platform that enables companies to build internal tools quickly, used by enterprises like Amazon, Pinterest, Coursera, NFL, and NBCUniversal. In December 2021, it raised a $20 million Series C round at a $1.85 billion valuation from investors including Sequoia Capital, Elad Gil, Stripe co-founders John and Patrick Collison, former GitHub CEO Nat Friedman, and others like Daniel Gross, with leads Daniel Gross, John Collison, and Nat Friedman. The small round size was intentional to minimize stock dilution for employees, as CEO David Hsu noted they raised the smallest possible Series C at a lower-than-offered valuation. Retool was reportedly generating annual revenues in the mid-eight figures and was cash-flow positive at the time, an uncommon achievement for a fast-growing enterprise software startup. The company planned stepped funding rounds every six to nine months to support growth while keeping dilution low, targeting a $5 billion valuation with only 3% additional dilution. This Series C followed prior rounds and preceded a July 2022 Series C2 of $45 million at $3.2 billion valuation from similar backers including Sequoia. Retool's traction included strong usage with over 500K apps built on its platform by mid-2022, serving Big Tech and other large customers needing custom internal software. It emphasized efficient growth, having millions in revenue early with a small team, and positioned itself at the intersection of developer tools and operational excellence amid digital transformation trends. |
| Oct 2020 | Series B | Sequoia Capital (lead); Daniel Gross; Nat Friedman; Hanover Technology Investment Management; John Collison; Josh Reeves; Alex Solomon | $50M | $925M | Retool is a low-code platform enabling enterprises to build internal applications quickly using drag-and-drop components like tables, charts, forms, and maps, integrating with databases and APIs such as REST, GraphQL, or gRPC. Launched in 2017, it targets developers and engineers frustrated with building custom tools, allowing apps to be assembled in as little as 30 seconds while keeping data ownership with users. In October 2020, Retool raised $50 million in a Series B round led by Sequoia Capital, with participation from founders of GitHub, Gusto, PagerDuty, Plaid, Segment, Stripe, and Y Combinator, including John Collison, Nat Friedman, Josh Reeves, and others matching the query. The post-money valuation reached $925 million, bringing total funding to $75 million and positioning Retool just shy of unicorn status. Investors were drawn to its potential to address the pain of internal tool development, as noted by Sequoia partner Bryan Schreier from his Google experience. Retool's customers at the time included major enterprises like Amazon, DoorDash, Anheuser-Busch InBev, Mercedes-Benz, Philips, Fox, NBC, Warner Bros., and Progressive. The funding aimed to scale the platform amid growing demand for efficient internal software solutions. Later developments included a July 2022 Series C at $3.2 billion valuation, but the 2020 round highlighted Retool's early traction in the low-code market for bespoke enterprise apps. |
| Apr 2019 | Series A | Sequoia Capital (lead); Daniel Gross; SV Angel; Nat Friedman; Peter Reinhardt; John Collison; Josh Reeves | $25M | - | Retool is a low-code development platform that enables teams to build internal tools rapidly using a drag-and-drop interface, targeting enterprises for custom applications in areas like marketing, underwriting, GDPR management, and scheduling. The company, founded in 2017 and headquartered in San Francisco, participated in Y Combinator's Winter 2017 batch and launched publicly via Hacker News. By the time of its Series A in April 2019, Retool had gained traction with tens of thousands of companies relying on it for internal software needs. In April 2019, Retool raised $25 million in a Series A round led by Sequoia Capital, with participation from investors including Daniel Gross, John Collison (Stripe co-founder), Josh Reeves (Gusto CEO), Nat Friedman (former GitHub CEO), Peter Reinhardt (Segment co-founder), and SV Angel, matching the specified investors. The funds were intended to expand the team and accelerate product development. This followed an earlier seed round in September 2017 of $1 million from similar angel investors. Post-Series A, Retool continued its growth trajectory. In October 2020, it raised a $50 million Series B also led by Sequoia Capital, highlighting strong customer traction with companies like Allbirds, Brex, Amazon, and NBC using the platform to save engineering hours and improve operational efficiency. Later rounds included a $20 million Series C in December 2021 at a $1.85 billion valuation led by Sequoia, and a $45 million extended Series C in July 2022 at $3.2 billion valuation with additional investors like Bond Capital. Total funding reached approximately $141 million by 2022. |
| Sep 2017 | Seed | Daniel Gross (lead); John Collison (lead); Nat Friedman (lead); Y Combinator; Kevin Liu; Zillionize; Liquid 2 Ventures; Andrew Miklas; Derrick Li | $1M | - | - |
Who has invested in Retool?
17 investors have backed Retool across its funding rounds, including Nat Friedman, Daniel Gross, John Collison, Sequoia Capital, Josh Reeves and Y Combinator.
Lead investors include Sequoia Capital, Daniel Gross, John Collison and Nat Friedman.
Retool Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Daniel Gross | San Francisco, CA | 5 | Lead | Sep 2017 |
| United States | 5 | Lead | Sep 2017 | |
| United States | 5 | Lead | Sep 2017 | |
| San Francisco, CA | 4 | Lead | Apr 2019 | |
| Josh Reeves | United States | 2 | Participant | Apr 2019 |
| Caryn Marooney | United States | 1 | Participant | Jul 2022 |
| San Francisco, CA | 1 | Participant | Apr 2019 | |
| San Francisco, CA | 1 | Participant | Sep 2017 | |
| San Francisco, CA | 1 | Participant | Sep 2017 | |
| San Francisco, CA | 1 | Participant | Sep 2017 | |
| San Francisco, CA | 1 | Participant | Sep 2017 | |
| Andrew Miklas | United States | 1 | Participant | Sep 2017 |
| San Francisco, CA | 1 | Participant | Oct 2020 | |
This data is available for Pro users. Sign up to see all 17 Retool investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialRetool Competitors
Retool competitors include listed companies like Intapp and Topicus, and private ones like Ironclad, ReliaQuest, Filevine and MOV.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $200M | - | $3.2B | 16.0x | |
| Tampa, FL | Private | $300M | - | $3.4B | 11.3x | |
| Salt Lake City, UT | Private | $200M | - | $3B | 15.0x | |
 Tokyo | Private | - | - | $3B | - | |
| United States | Publicly listed | $578M | ($16M) | $2.8B | 4.5x | |
 Netherlands | Publicly listed | $1.8B | $393M | $5.4B | 3.0x |
Retool Public Comps
Retool is still privately-owned, but its public comps include Intapp, Topicus, RWS Holdings, CS Disco, Hibino, Xp Industrial FII, GetBusy, Valtes Holdings, Dye & Durham and SS&C Technologies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $578M | ($16M) | 4.6x | 4.5x | (164.3x) | 20.9x | |||
| $1.8B | $393M | 3.4x | 3.0x | 15.3x | 10.6x | |||
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $435M | $60M | 0.6x | 0.6x | 4.3x | - | |||
| $9M | - | 10.0x | - | - | - | |||
| $30M | $2M | 2.1x | 2.0x | 35.2x | 32.5x | |||
| $77M | $6M | 0.6x | 0.6x | 7.4x | - | |||
This data is available for Pro users. Sign up to see all Retool competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Retool
| When was Retool founded? | Retool was founded in 2017. |
| Where is Retool headquartered? | Retool is headquartered in San Francisco, CA, United States. |
| Is Retool publicly listed? | No, Retool is a private, VC-backed company. |
| What is Retool's valuation? | Retool was last valued at $3.2B in its Series C in July 2022. |
| How much funding has Retool raised? | Retool has raised $141M across 5 funding rounds. |
| What was Retool's last funding round? | Retool's last funding round was a $45M Series C in July 2022, led by Sequoia Capital. |
| Who are Retool's investors? | Retool's investors include Daniel Gross, Nat Friedman, John Collison, Sequoia Capital, Josh Reeves, Caryn Marooney, SV Angel, Y Combinator, Kevin Liu, Zillionize and 7 others. |
| What is Retool's revenue? | Retool's latest recorded revenue is $120M (July 2022). |
| What is Retool's revenue multiple? | Retool's latest valuation implies a 26.7x revenue multiple ($3.2B valuation on $120M of revenue). |
| Which companies are comparable to Retool? | Companies comparable to Retool include Ironclad, ReliaQuest, Filevine, MOV, Intapp and Topicus. |
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