Retool, a San Francisco, CA-based platform that enables developers to build software apps for internal use cases, raised $20m in Series C funding, which valued the company at $1.85 billion.
Backers included Sequoia, Elad Gil, Patrick Collison, John Collison, Nat Friedman, and Jay Simons.
The company intends to use the funds to hire talent and accelerate product development across several new product lines.
Retool now powers over a quarter million business applications across businesses of every size, from fast-growing startups like Hopin, Descript, and Brex to global enterprises like Amazon, Pinterest, and Conagra.
Thousands of teams at companies like Amazon, DoorDash, Peloton, and Brex collaborate around custom-built Retool apps to solve internal workflows.