Open-source low-code platform ToolJet has raised fresh funds co-led by M12, Microsoft’s venture fund and GitHub via the M12 GitHub Fund to fuel its next stage of growth.
ToolJet has previously raised $6.1 million from Nexus Venture Partners, Ratio Ventures, Better Capital, January Capital and others. The company did not disclose the details of the new transaction.
The fresh proceeds will be allocated towards expansion of its workforce, advancing the artificial intelligence capabilities, and bolster its talented team by attracting top-tier talent across various domains, ToolJet said in a press release.
Founded in 2021 by Navaneeth Padanna Kalathil,ToolJet empowers customers to enhance the platform’s capabilities by integrating JavaScript-based plugins, enabling possibilities for customisation and extensibility. The company aims to enhance its platform’s intelligence, enabling developers to leverage advanced algorithms and automation to streamline their development workflows further.
According to ToolJet, its low-code framework places importance on data privacy compliance, addressing the growing concerns of organisations. With a steadfast commitment to safeguarding sensitive information, the platform offers the flexibility of secure on-premise installation, enabling users to retain control over their data even without internet connectivity.
Microsoft’s M12 has invested in over 100 early-stage companies with a focus on autonomous systems, cloud infrastructure, cybersecurity, DevOps, healthcare, vertical SaaS, Web3, metaverse, and gaming. Innovaccer,Acqua, FarEye, Netradyne, and Nextbillion.ai, among others are its notable investment.
