M12, GitHub Invest led new funding raised by open-source low-code platform ToolJet
To support its next phase of growth, the open-source low-code platform ToolJet has raised new funds through the M12 GitHub Fund, which was co-led by Microsoft’s venture fund and GitHub.
Prior to this, ToolJet received $6.1 million from investors including Better Capital, January Capital, Ratio Ventures, Nexus Venture Partners, and others. The specifics of the new transaction were not made public by the company.
According to a press release from ToolJet, the additional funds will be used to increase its workforce, develop its artificial intelligence capabilities, and bolster its talented team by luring top talent from a variety of industries.
By incorporating JavaScript-based plugins, ToolJet, which was founded in 2021 by Navaneeth Padanna Kalathil, enables customers to customize and extend the platform’s functionality. The business wants to increase the platform’s intelligence so that developers may use cutting-edge algorithms and automation to further optimize their development workflows.
ToolJet claims that its low-code platform prioritizes data privacy compliance, meeting the organizations’ growing concerns. The platform, which is unwavering in its dedication to protecting sensitive data, gives the flexibility of a secure on-premise installation, allowing customers to maintain control over their data even when there is no internet connection.
With an emphasis on autonomous systems, cloud infrastructure, cybersecurity, DevOps, healthcare, vertical SaaS, Web3, metaverse, and gaming, Microsoft’s M12 has made investments in more than 100 early-stage businesses. Among others, Nextbillion.ai, Acqua, FarEye, Netradyne, and Innovaccer are notable investments.
