ToolJet, an open source low-code app builder, wants to help companies do more with less
Summary
Indeed, most of the big tech companies have announced significant layoffs these past few months, with Microsoft CEO Satya Nadella essentially blaming its 10,000 job cull on its customers transition toward thriftiness.As we saw customers accelerate their digital spend during the pandemic, were now seeing them optimize their digital spend to do more with less, Nadella said. This is certainly what low-code enterprise app builder ToolJet is finding, as the Indian startup today announced that it has raised $4.6 million in a pre-Series A round of funding to capitalize on the growing popularity of an open source project it launched some 20 months ago.ToolJet, essentially, allows companies to create custom internal business applications, such as admin panels or order tracking systems, by connecting to data sources such as Postgres, MySQL or Airtable minimal coding required, with a visual-based front-end builder in tow. We are trying to move forward at this pace to get ahead of everyone soon.The story so farToolJet first went to market in June 2021, and the open source project has since garnered more than 17,000 stars (similar to a like) on GitHub. The company also offers a fully managed and hosted SaaS incarnation.The free and open source software community edition of ToolJet can be self-hosted for free, without any restrictions on the features or the number of users, Kalathil explained.Although ToolJet is incorporated in the U.S., the bulk of its team including Kalathil himself is based in India. The company had previously raised around $1.5 million, and its fresh $4.6 million cash injection was led by Nexus Venture Partners with participation from January Capital, Ratio ventures and a slew of angel investors, including Algolia co-founder and Y Combinator group partner Nicolas Dessaigne.The money from the new round will be used for expanding our team, Kalathil explained.
Classifications
AskAI Classifications
LabelsLinked Companies
