Venture Capital

Retool Reels In $20 Million

SAN FRANCISCO — Retool says it has raised $20 million Series C from existing investors: Sequoia Capital, Elad Gil, Nat Friedman, Daniel Gross, and John and Patrick Collison. These investors also led the company’s Series A and Series B rounds.

Retool helps companies connect their apps and databases to build their own tools in minutes.

Founder and CEO David Hsu said the company tried to raise the right amount of money instead of getting the most money at the highest valuation.

The company says it has paying customers that span all industries, from fintech (Brex, Coinbase, and Plaid), to e-commerce (Amazon, Allbirds, Rakuten, and Peloton), all the way to automotive (Jaguar Land Rover, Mercedes Benz, and Volvo).