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ToolJet raises funding from M12 and GitHub to accelerate growth

Open-source low-code developers platform ToolJet has raised funding from M12, the venture arm of Microsoft and cloud-based software development platform GitHub, the company announced Monday.

The amount of investment has not been disclosed.

Founded in 2021, ToolJet has previously raised USD 6.1 million from Nexus Venture Partners, Ratio Ventures, Better Capital, January Capital and other notable venture capitalists and angel investors.

The company will utilise the fresh investment in workforce expansion and advancing its artificial intelligence (AI) capabilities within the platform, according to the statement.

Navaneeth Padanna Kalathil is the Founder and Chief Executive Officer of ToolJet. Kalathil had previously co-founded MobioPush which was acqui-hired by Freshworks in 2015.

“Impressed by Navaneeth and the Tooljet team and their approach to low-code enterprise app building via the engagement of the open source community, 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.

ToolJet is popular among developers and teams across Fortune 500 companies, scaleups and startups worldwide, and has about 20,000 stars and 350 contributors on GitHub.

The platform offers secure on-premise installation, enabling users to control their data even without internet connectivity. Its open-source technology integrates JavaScript-based plugins for customization and extensibility. PTI

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