The maker of a low-code software development platform used by companies such as Amazon.com Inc., Retool Inc., said it had closed a USD20 million funding round at USD1.85 billion valuation.
A group of returning backers provided the Series C round. The participants included Sequoia, Elad Gil, Stripe Inc. co-founders John and Patrick Collision, former GitHub Chief Executive Officer Nat Friedman, and former Atlassian President Jay Simons. The decision to raise a smaller sum than expected under such circumstances is part of an effort on Retool’s interest to reduce stock dilution.
Read More: siliconangle
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