New Delhi: Builder.ai, a revolutionary AI-powered composable software platform, has announced a significant milestone in its growth journey. The company has secured a substantial investment of USD 250 million in Series D funding led by the Qatar Investment Authority (QIA). This latest infusion of capital brings Builder.ai’s total raised funds to over USD 450 million and contributes to an impressive 1.8 times increase in its valuation.
The primary objective of this funding round is to fuel Builder.ai’s ongoing industry leadership and innovation pipeline. The company plans to allocate the investment towards talent acquisition, strategic partnerships, and technological advancements. Notably, Builder.ai aims to redefine the user interface for software development, shifting the focus from expert-driven white-canvas systems to a more accessible and intuitive human conversation interface. By simplifying the process, Builder.ai empowers businesses and individuals to transform their ideas into software solutions with ease.
The surge in customer demand and the rapid advancements in AI have propelled Builder.ai’s growth trajectory. Since January 2022, the company has nearly doubled its workforce and expanded its headquarters in the UK, establishing four new offices in the USA, the UAE, Singapore, and France.
The unwavering support from investors, combined with strategic partnerships, customer satisfaction, and a commitment to innovation, has been instrumental in driving Builder.ai’s momentum. Over the past year, the company has achieved an impressive revenue growth of 2.3 times and successfully deployed more than 40,000 features to its customers.
Participating in the Series D round alongside the Qatar Investment Authority are additional existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners.
Sachin Dev Duggal, Chief Wizard and Founder of Builder.ai expressed his excitement about the company’s mission to unlock human potential by enabling software creation. He acknowledged the transformative nature of software development, emphasizing the shift from its previous long shelf life to a future where software’s lifespan would resemble a conversation. Duggal highlighted the exponential growth in software creation and how Builder.ai aims to harness this potential for its customers worldwide.
The Series D investment marks a significant milestone for Builder.ai, allowing the company to further enhance its AI and automation capabilities. The company remains committed to leading the industry by staying ahead of technological advancements and responsibly utilizing new frontier technologies.
Ahmed Ali Al-Hammadi, CIO for Europe, Türkiye, and Russia at QIA, expressed enthusiasm about partnering with Builder.ai and their confidence in the company’s innovative technology. Al-Hammadi believes that Builder.ai’s proven approach positions them for substantial future growth, aligning with QIA’s strategy of supporting innovative companies shaping the global economy.
Amit Anand, Managing Partner at Jungle Ventures, reflected on Builder.ai’s exceptional growth and resilience, even amidst challenging economic conditions. As an early investor, Anand expressed pride in supporting Builder.ai’s visionary path.
Since its establishment in 2016, Builder.ai has emerged as an industry leader with its AI-powered composable software platform. The platform empowers individuals and businesses to build web or mobile applications faster and at a significantly lower cost, with a 70% reduction in expenses.
Builder.ai’s success lies in breaking down software into reusable components akin to LEGO blocks. Combined with customization from its network of expert designers and developers, supported by AI-driven automation, the company has facilitated successful digital transformations for its customers on a global scale.
With this substantial Series D funding, Builder.ai is poised to continue its remarkable growth journey, revolutionizing the software development process and enabling even more people to bring their ideas to life.