technology

Low code platform Retool to expand India presence


San Francisco-based low-code platform Retool is expanding its presence in India with exclusive offerings as it sees huge traction from IT service providers and startups alike. Founded in 2017, the company was recently valued at $1.85 billion.

Low-code development platforms (LCDP) provide a development environment used to create application software through a graphical user interface instead of traditional hand-coded computer programming. Retool is introducing a free tier that allows developers to build more apps and share them with more teammates upfront.

Indian platforms with similar low code or no code offerings include Hubbler, Appy Pie, ToolJet among others.

“For us, India is incredibly important due to the talent pool and large number of consultancies present here. It was the first international market we invested in and continues to be a high growth market having grown 5x over the past year in this geography. We discovered that Indian startups and companies were going faster than our US clients,” said David Hsu, cofounder and CEO of Retool.

The company believes this new free tier will reduce friction and broaden accessibility to India-based startups and independent developers. It largely caters to clients in the financial services and IT segments. Its global customers include Amazon, Pinterest, and Coinbase and the likes of CRED, Sharechat, Coinswitch and Unacademy in India.

“We see a lot of uptake in IT firms using retool for different solutions especially in ecommerce and financial services. Many of our US retail clients outsource software development to Indian vendors, who in turn use our offering. We’ve seen incredible momentum with our Indian customer base and feel it’s the right time to expand our support and footprint in the region,” said Hsu.

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Gartner research says, on average, 41 per cent of employees outside of IT – or business technologists – customize or build data or technology solutions. It predicts that half of all new low-code clients will come from business buyers that are outside the IT organization by year-end 2025. Currently, all of the major software-as-a-service (SaaS) vendors provide capabilities that incorporate low-code development technologies.

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