ToolJet, the open-source low-code platform for developers, has secured an investment from M12, Microsoft’s venture fund and GitHub via the M12 GitHub Fund to fuel its next stage of growth.
The investment will play a pivotal role in ToolJet's strategic initiatives as it focuses on expanding its workforce and advancing the artificial intelligence capabilities within the platform.
The company will bolster its team by attracting top-tier talent across various domains. By harnessing the power of AI, it aims to enhance its platform's intelligence, enabling developers to leverage advanced algorithms and automation to streamline their development workflows further. This strategic allocation of funds will also empower the company to accelerate innovation, fueling its mission to revolutionize software development and deliver unparalleled value to its ever-growing user base.
With close to 20,000 stars and 350 contributors on GitHub, ToolJet has claimed to become the go-to solution for thousands of innovative teams across Fortune 500 companies, scaleups, and start-ups worldwide. Leveraging the power of open-source technology, ToolJet eyes to empower customers to seamlessly enhance the platform's capabilities by effortlessly integrating JavaScript-based plugins, enabling endless possibilities for customization and extensibility.
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Prior to this, the company raised $6.1 million in a funding round led by investors like Nexus Venture Partners, Ratio Ventures, Better Capital, January Capital and other VCs and angel investors.
"We're thrilled to have Microsoft and GitHub join us on our journey," said Navaneeth Padanna Kalathil, CEO of ToolJet.
"Their investment is a testament to the strength of our platform, community and our vision to democratize software development by making it more accessible to everyone," he added.
“We believe that low-code development is a key way for businesses to accelerate their innovation and we are committed to supporting ToolJet in their mission,” said Priyanka Mitra, Partner at M12 and co-founder of the M12 GitHub Fund.
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“We were impressed by Navaneeth and the Tooljet team, and their approach to low-code enterprise app building via the engagement of the open-source community, ” she noted.
