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Retool Nears $1 Billion Valuation With Funding From Sequoia

  • Startup helps companies build internal applications faster
  • Customers include Amazon, Mercedes, Phillips, Progressive

Retool, Inc., a startup that’s less than four years old, is worth almost $1 billion after raising money from some of Silicon Valley’s top investors including Sequoia Capital and executives from GitHub Inc. and Stripe Inc.

The San Francisco-based company recently completed a $50 million financing that was led by Sequoia and values Retool at $925 million. That follows an earlier $25 million round. Other backers include GitHub Chief Executive Officer Nat Friedman, Stripe founders Patrick and John Collison, Brex Inc. founders Henrique Dubugras and Pedro Franceschi, and Y Combinator co-founder Paul Graham.