Open-Source Low-Code Developers Platform ToolJet Raises Funding from Microsoft’s M12 and GitHub
- ByStartupStory | July 18, 2023
Open-source low-code developers platform ToolJet has secured funding from M12, the venture arm of Microsoft, and GitHub, the cloud-based software development platform. The exact investment amount has not been disclosed, as announced by the company on Monday.
Founded in 2021, ToolJet had previously raised $6.1 million from prominent investors, including Nexus Venture Partners, Ratio Ventures, Better Capital, January Capital, and other venture capitalists and angel investors.
The latest investment will be utilized by ToolJet to expand its workforce and enhance its artificial intelligence (AI) capabilities within the platform, according to a statement released by the company.
Navaneeth Padanna Kalathil, the founder and chief executive officer of ToolJet, brings a wealth of experience to the table, having previously cofounded MobioPush, which was acqui-hired by Freshworks in 2015.
Expressing their confidence in ToolJet’s approach to low-code enterprise app building and the engagement of the open-source community, Priyanka Mitra, partner at M12 and cofounder of the M12 GitHub Fund, said, “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.”
ToolJet has garnered popularity among developers and teams in Fortune 500 companies, scaleups, and startups worldwide. With approximately 20,000 stars and 350 contributors on GitHub, the platform boasts a strong community following.
One of the key features of ToolJet is its secure on-premise installation, which allows users to retain control over their data even without internet connectivity. The platform’s open-source technology seamlessly integrates JavaScript-based plugins for customization and extensibility.
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