Appsmith, the open-source low code software helping developers build internal tools, has raised $41 million in Series B funding led by global software investor Insight Partners, with participation from Accel, Canaan Partners, OSS Capital, and angel investors including Jeff Hammerbacher, co-founder of Cloudera, and Abhinav Asthana, co-founder of Postman.
The funding follows dramatic growth in users since the $10.5 million Series A round in October 2021 led by Canaan Partners and including Bessemer Venture Partners, bringing the total funding to $51.5 million. The company plans 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.
As the company puts it, Appsmith is the first open-source low code software that helps developers build internal and CRUD (create, read, update and delete) type applications quickly, usually within only 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.
Companies dedicate anywhere from 10% to 40% of their engineering resources to these internal tools, like for example a customer support dashboard.