Retool raises $45M at a $3.2B valuation

For example, here's when we launched: https://news.ycombinator.com/item?id=14515494. Hilariously, we described Retool as "Excel with higher order primitives", and people understood it! (Only on HN!)

After that, we spent around a year polishing the product and getting customers, and we launched officially on HN: https://news.ycombinator.com/item?id=17725966.

Today, we have tens of thousands of paying customers, are ~cashflow-positive, and have substantial revenue. But we are yet still so far from changing how internal software is built. Our thesis is that a Visual Basic-like application builder is a better way of building a certain segment of software (namely, internal CRUD apps). If you have any feedback or ideas on how we can improve the product, please do let me know (in comments or via email).

Oh, here's our blog post too: https://retool.com/blog/series-c2/. It has some details about our weird fundraising strategy (smaller rounds, lower valuation), which we think is more employee-friendly (lower dilution, more upside for employees). Happy to talk through that as well; here's another article about it: https://www.forbes.com/sites/alexkonrad/2021/12/22/retool-un...

We don't manage the database for customers; we instead connect to your data (whether it's behind an API or database). That was one of the first decisions we made — as a developer, if my data is already in postgres, I certainly wouldn't want to have to ETL / sync it anywhere. :)

Use cases: probably our most common use case is a CRM for a consumer company (e.g. Doordash). The reason that is so popular is because if you have (say) 1M orders a day, you aren't able to put that data in Salesforce anymore. And so the only way for you to manage all that stuff is by building custom software (instead of buying anything off the shelf). Retool is good at that: you can build CRUD-y screens very quickly. Retool, today, is not good at making everything pixel perfect (e.g. we have a grid layout engine, and you can't break out of the grid), but a CRM doesn't need to be pixel perfect.

It depends on your use case: Metabase is designed for BI (i.e. reading large amounts of data and chating it); Retool is designed for apps that write back to databases / APIs. Metabase (TBH) is better at charting (they have nicer charts, better caching, etc.). But it doesn't support writing back to APIs or databases. For example, if somebody on your team is asking "what was our revenue last month", Metabase is going to be better for that. But if your team wants an app that "shows possibly fraudulent orders, with a button to cancel & refund them", Retool is better for that (and Metabase wouldn't allow you to do that).