Human bias at its finest - e.g. social proof. It's the classic "you don't get fired for hiring IBM" notion. If you were a CIO and chose Retool but it flopped, no one could say "what the hell was the CIO thinking by choosing a company that could go under tomorrow".
I think fundraising is more about setting a price on the company. I mean, now we know retool is valued at 3.2 billion, it is probably 20-40x revenue, may be more.
