As businesses worldwide continue grappling with economic challenges, the do more with less mantra has gained considerable traction. In response, organizations are seeking ways to remain productive while reducing expenses. This trend has opened up opportunities for solutions such as low-code enterprise app builder ToolJet, which recently secured $4.6 million in pre-Series A funding to capitalize on its popular open-source project launched 20 months ago.
ToolJet is a platform that allows companies to create custom internal applications, such as admin panels and order tracking systems, by connecting to data sources like Postgres, MySQL, or Airtable. The platform only requires minimal coding and includes a visually appealing front-end builder. ToolJet's 2.0 version, launched earlier this month, features a built-in database, redesigned UI, support for Python, and more.
Founder and CEO of ToolJet, Navaneeth Padanna Kalathil, explained that the solution enables organizations to build applications quickly with significantly fewer engineering resources. It democratizes the app development process by opening it up to a wider range of employees, not just developers and engineers.
ToolJet aims to be an open-source alternative to similar solutions like Retool, which recently achieved a valuation of $3.2 billion, and it competes with other open-source platforms like Appsmith and Budibase. One key differentiator is ToolJet's extensibility through a plugin-based approach, which allows users to create new integrations and contribute to the open-source community without diving into the codebase.
With the recent addition of Python support and planned team-collaboration features like real-time commenting, ToolJet hopes to keep up with and eventually surpass its competitors. The platform has over 17,000 GitHub stars since its open-source project launch in June 2021. Its enterprise edition offers additional features and services, with Orange and Byju among its high-profile customers.
Founded in India, ToolJet's recent $4.6 million funding round, led by Nexus Venture Partners, aims to expand the company's product teams and engineering resources. This will help them address the community's feature requests and create an ecosystem that caters to users' needs.
Platforms like ToolJet and a host of other no-code and low-code app development tools, including AppMaster, have revolutionized the way businesses create and maintain applications. They help organizations cut costs, improve productivity, and adjust their strategies rapidly in a dynamic market. The increasing demand for such platforms is evident in the success stories of various startups, and AppMaster, with its no-code platform, continues to be a part of this ever-growing industry.
