Builder.ai, the AI-powered composable software platform that enables businesses and individuals to turn their ideas into software, has secured over $250 million in Series D funding. The funding round was led by Qatar Investment Authority (QIA) and brings the total amount raised by the company to over $450 million, resulting in an increase in its valuation.
The investment will support Builder.ai’s ongoing industry leadership and innovation initiatives, including investments in talent, partnerships, and technology. The company aims to prioritize the use of human conversation as the primary user interface for software development, moving away from complex expert-driven systems commonly seen in the no-code/low-code space.
With increasing customer demand and advancements in AI, Builder.ai has nearly doubled its workforce since January 2022 and expanded its headquarters in the UK, establishing four new offices in the USA, the UAE, Singapore, and France.
The company’s momentum has been driven by continued investor support, strategic partnerships, customer demand, and innovative solutions. Over the past year, Builder.ai has achieved 2.3x revenue growth and deployed more than 40,000 features to customers.
The Series D funding round saw participation from existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners. Builder.ai’s mission is to empower individuals to unlock their human potential through software development. The company believes that the very concept of software is evolving, shifting from something with a shelf life of years to a conversational-based model, with exponential growth expected in software creation.
QIA expressed excitement about partnering with Builder.ai and believes that the company’s innovative technology and proven approach position it for substantial growth. The investment aligns with QIA’s strategy of supporting companies shaping the future of the global economy.
Builder.ai’s Founder and Chief Wizard, Sachin Dev Duggal, highlighted the company’s commitment to doing more with less and investing in AI and automation capabilities to empower customers and responsibly leverage new technologies.
Since its establishment in 2016, Builder.ai has been at the forefront of the industry with its AI-powered composable software platform, enabling anyone with an idea to build web or mobile applications faster and at a 70% lower cost. By breaking down software into reusable components and leveraging a network of designers and developers, Builder.ai has facilitated successful digital transformations for its customers worldwide.
The company has also strengthened its partnership with Microsoft, joined forces with JP Morgan & Chase and Etisalat UAE, and received recognition for its innovative approach. Builder.ai has been included in the 2023 Fast Company list of Most Innovative Companies, named the 2022 Europas “Scale Up of the Year,” and featured in the 2021 Gartner Magic Quadrant for Multi Experience Development Platforms (MXDP) and MarketGuide 2022 for MXDP. The company was also a finalist for the 2022 Gartner Magic Quadrant for low code application platforms (LCAP).
The completion of the transaction is subject to customary closing conditions, and Goodwin acted as the legal advisor to Builder.ai.
