Appsmith, a San Francisco, CA-based open-source low code software for developers to build internal tools, raised $41 million in Series B funding, bringing Appsmith's total funding to $51.5 million.
The round was led by Insight Partners, with participation from Accel, Canaan, OSS Capital, and angel investors including Jeff Hammerbacher, co-founder of Cloudera, and Abhinav Asthana, co-founder of Postman.
The company intends to use the funds to continue building out its open-source software while delivering support services as well as a paid version of the software with additional security features needed by enterprises.
Company: Appsmith Inc.
Raised: $41.0M
Round: Series B
Funding Month: June 2022
Lead Investors: Insight Partners
Additional Investors: Accel, Canaan, OSS Capital, Jeff Hammerbacher, and Abhinav Asthana,
Company Website: https://app.appsmith.com/
Software Category: Open-Source Low Code Software
About the Company: Led by Abhishek Nayak, co-founder and CEO, Appsmith provides open-source low code software that helps developers build internal and CRUD (create, read, update and delete) type applications within hours. Software engineers build the user interface with pre-built components, code the business logic by connecting application programming interfaces (APIs) along with any database, then test and deploy a web application where users are authenticated using a dashboard. Since being introduced less than two years ago, the open-source software had more than 10 million downloads and is used by over 10,000 organizations.
Source: https://www.finsmes.com/2022/06/appsmith-raises-41m-in-series-b-funding.html